Dhaka, Bangladesh (BBN)– Bangladesh’s foreign exchange (forex) reserve has crossed US$32 billion further despite of falling trend in export earnings in the recent months.
The forex reserve rose to $32.05billion on Sunday from $31. 98 billion of the previous working day, according to the central bank’s latest data.
“Higher inflow of remittances along with receiving a World Bank fund worth $60 million has contributed to raise the forex reserve position recently,” a senior official of the Bangladesh Bank (BB) told the BBN in Dhaka.
Bangladesh will able to settle import bills for more than five months with existing forex reserves.
The forex reserves fell to $31.60 billion on November 07 from $32.60 billion on the previous working day after clearing a routine payment of US$987 million to the Asian Clearing Union (ACU) against imports during the September-October period of this calendar year.
Under the existing provisions, outstanding import bills and interest thereof are to be paid by the member countries at the end of every two months.
The highest $33.68 billion reserves were recorded on September 05, 2017.