Dhaka, Bangladesh (BBN) – Bangladesh’s foreign exchange (forex) reserve crossed US$33 billion-mark for the first time on Thursday after receiving a World Bank fund worth $46 million.
The forex reserve rose to $33.01 billion on the day, setting a new record, from $32.92 billion of the previous working day, according to the central bank officials.
“We’ll be able to settle more than eight months import bills with the existing forex reserve,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
He also said the position on forex reserve increased gradually following higher inflow of remittance before the upcoming Eid festival.
Bangladesh received $724.46 million as remittances between June 1 and June 16 from Bangladeshi nationals who are working abroad, according to the central bank’s latest statistics.
In May 2017, the inflow of remittance was $1.27 billion.
“Steady export earnings growth also helped build the reserves in recent years,” the central banker noted.