Bangladesh forex reserves hit record, top $32 billion

Bangladesh`s foreign exchange reserves hit a record $32.09 billion at the end of December, the central bank said on Tuesday, up $720 million from the previous month.

The reserves were sufficient to cover about nine months` worth of imports, and are $4.6 billion higher than a year ago.

Steady garment exports and remittances from Bangladeshis working overseas, the key drivers of the country`s more than $200 billion economy, have helped build reserves in recent years.

($1 = 78.70 Taka)

Source: Reuters