Dhaka, Bangladesh (BBN)– Bangladesh’s foreign exchange (forex) reserve has crossed US$27 billion-mark for the first time in history following lower prices of commodities particularly fuel oils in the global market, officials said.

The country’s foreign exchange reserve rose to $27 billion on Thursday from $26.86 billion of the previous working day.

“Our forex reserve crossed $27 billion mainly due to lower import payment pressure,” Kazi Sayedur Rahman, general manager of the Forex Reserve and Treasury Management Department of the Bangladesh Bank (BB), told the BBN in Dhaka.

Mr Rahman also said the country will be able to settle more seven months’ import bills with the existing forex reserves.

Talking to the BBN, another BB official said steady growth of both the export earnings and inward remittance have contributed to increasing the country’s forex reserve position.

Besides, purchasing of the US dollar from the commercial banks has helped boosting forex reserve position recently, he explained.