Dhaka, Bangladesh (BBN) - Bangladesh's foreign exchange reserves have reached the $22 billion mark after several months, driven by increased inflows from remittances and export earnings.
As per the International Monetary Fund (IMF)’s Balance of Payments International Investment Poisson Manual-six edition, generally known as BMP6, the forex reserves stood at $22.04 billion on Wednesday, up from $21.41 billion a week earlier, as per the central bank's latest data.
However, gross forex reserves as per traditional calculation of the Bangladesh Bank (BB), the country’s central bank, stood at $27.41 billion, up from $26.76 billion a week earlier.
The ongoing upward trend of remittances and export earnings has helped boost the forex reserves, according to the central bank officials.
Remittance inflow hit $3.29 billion in March, the highest in any single month in the history of Bangladesh.
Bangladesh received $2.61 billion in remittances during the first 29 days of April, the BB data showed.
BBN/SSR/AD