Forex reserves stand at $27.34b
“Rising remittance inflows and the central bank’s dollar purchases through auctions are contributing to the increase in reserves,” Bangladesh Bank spokesperson says
Representational image/Reuters
Bangladesh's gross foreign exchange reserves have reached $27.34 billion, according to the Bangladesh Bank.
Arif Hossain Khan, spokesperson and Executive Director of Bangladesh Bank, confirmed the matter to reporters this evening (29 October).
"Rising remittance inflows and the central bank's dollar purchases through auctions are contributing to the increase in reserves," Arif told The Business Standard.
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"Higher remittance inflows and export earnings have boosted the supply of dollars in the banking sector. Commercial banks, after selling dollars to other banks, are also selling excess dollars to the central bank, which adds to the country's reserves," he added.
