Forex reserves cross $28bn, rise $1.5bn in 20 days
BB officials said the rise in reserves is largely the result of the central bank purchasing dollars from commercial banks through auctions
Bangladesh's gross foreign exchange reserves have crossed the $28 billion mark, reaching $28.04 billion, Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan said today (22 December).
According to the International Monetary Fund's (IMF) BPM-6 accounting method, the country's gross reserves stood at $26.51 billion on 1 December. This indicates an increase of $1.5 billion within just 20 days.
Bangladesh Bank officials said the rise in reserves is largely the result of the central bank purchasing dollars from commercial banks through auctions.
So far in the current fiscal year, the Bangladesh Bank has bought more than $2.5 billion from the market.
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A senior Bangladesh Bank official said the supply of dollars in banks has increased compared to earlier due to a higher inflow of remittances.
To prevent the exchange rate of the US dollar from falling, the central bank has been purchasing dollars through auctions.
