Forex reserves cross $21 billion: BB
Published: 29 December 2024, 11:02:45
Bangladesh’s foreign exchange reserves have surpassed $21 billion, bolstered by a $1 billion inflow from international lending institutions, including the Asian Development Bank (ADB), over the past week.
Bangladesh Bank’s Executive Director and Spokesperson Husne Ara Shikha confirmed the development on Friday, noting that the reserves have risen due to external loan disbursements and an uptick in remittance inflows.
As of Sunday, gross reserves calculated under the International Monetary Fund’s (IMF) BPM-6 methodology stand at $21.35 billion. By Bangladesh Bank’s own calculation method, reserves are at $26.09 billion. Earlier this week, gross reserves were reported at $20.16 billion and $24.98 billion under the IMF and central bank methods, respectively.
“Recent disbursements from foreign lending institutions and higher remittance inflows have contributed to the increase,” Shikha said. She added that additional foreign loans are expected to be released in the coming weeks, which could further boost reserves.
The reserves were last recorded at $21.78 billion at the end of June this year. The central bank remains optimistic about maintaining reserve stability through sustained inflows and prudent management.