Dhaka, Bangladesh (BBN)- Bangladesh's gross foreign exchange (forex) reserve increased by US$116 million in last week following lower import payment obligations and higher inflow of remittances, officials said.
The forex reserve rose to $25.30 billion on October 23 from $25.18 billion on October 16 as per traditional calculation of the Bangladesh Bank (BB). It was $24.86 billion on September 30.
As per the International Monetary Fund (IMF)’s Balance of Payments International Investment Poisson Manual-six edition, generally known as BMP6, the forex reserves came down to $19.81 billion during the period under review from $19.94 billion, according to the central bank’s latest data, released on Thursday.
Such reserve was $19.86 billion on September 30.
The reserve, one of the major macroeconomic indicators of an economy, fell to $24.53 billion in terms of gross calculation of the central bank after clearing $1.37 billion import payments to the Asian Clearing Union (ACU) on September 07 last while the reserve stood at $19.46 billion as per IMF’s BMP6.
“Higher inflow of remittances have helped Bangladesh to cross $25 billion forex reserve,” a BB senior official said, adding that the country received $1.53 billion as inward remittances during the first 19 days of October 2024.
BBN/SSR/AD