Bangladesh forex reserves hit record $33 bln

Bangladesh Bank’s foreign exchange reserves have crossed the record $33 billion (Tk. 3,300 crore) mark for the first time, the central bank’s Forex Reserve and Treasury Management Department sources said on Thursday.

The reserves are sufficient to cover about 10 months’ worth of imports, going by an estimated monthly requirement of $3 billion, the sources said.

Steady remittances inflow from the expatriates and low oil price in the international market helped build reserves in recent years.

As per international standards, countries are expected to maintain enough forex reserves to meet import costs for three months. Bangladesh clears Asian Clearing Union (ACU) bills every two months.