Dhaka, Bangladesh (BBN)– Bangladesh’s foreign exchange (forex) reserve crossed the US$29 billion-mark again on Monday following higher export growth and lower import payment pressures on the economy.
The reserve rose to $29.004 billion on the day from $28.93 billion of the previous working day. It was $29.01 billion on April 25 last.
“The forex reserve has crossed the $29 billion-mark again due mainly to higher export earnings and lower import payment pressures on the economy,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
The BB official also said the country will be able to settle more than seven months import bills with the existing forex reserve.
Lower prices of commodities particularly petroleum products in the global market have also helped to raise the country’s forex reserve, the central banker explained.