Dhaka, Bangladesh (BBN) – Foreign currency (forex) reserves crossed the US$14 billion-mark for the first time on Tuesday in the history of Bangladesh.
The country’s reserve was $14.10 billion on the day, according to the central bank statistics.
“Foreign exchange reserve is shooting up due to the export and remittance growth and fall in imports,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
He also said around $140 million of the second instalment of the extended credit facility of the International Monetary Fund (IMF) will be deposited with the central bank on Wednesday, , which will further boost the forex reserves.
The current reserve can be used to clear import bill requirements of over five months, the central bank said.
BBN/SSR/AD-06Mar13-9:14 (BST)
