Highlights
- Bangladesh’s foreign exchange reserves have increased to $27.22 billion.
- On 1 December, reserves were $26.51 billion.
- The central bank boosted reserves by purchasing over $2.5 billion from commercial banks this fiscal year.
- Higher remittance inflows improved dollar supply in banks.
- To prevent the taka from appreciating, Bangladesh Bank is actively buying dollars through auctions.
Bangladesh’s forex reserves have climbed to $27.22 billion, marking a notable improvement in the country’s external financial position. Bangladesh Bank spokesperson and Executive Director Arief Hossain Khan confirmed the development today (10 December).
Just over a week ago, on 1 December, the country’s reserves were reported at $26.51 billion, meaning the reserves have grown by more than $700 million in this short period.
According to central bank officials, the primary driver of this increase is the bank’s ongoing effort to purchase US dollars from commercial banks through its auction system.
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This fiscal year alone, the Bangladesh Bank has already bought over $2.5 billion, helping to rebuild reserves that had seen a declining trend in previous years.
A senior Bangladesh Bank official said that an increase in remittance inflows has strengthened the supply of dollars in the banking sector. With more foreign currency entering the system, the central bank has taken the opportunity to buy dollars to prevent the exchange rate from falling.
The official explained that these purchases support market stability and ensure that the exchange rate does not experience sudden appreciation pressure. The recent rise in reserves is expected to provide stronger backup for imports, improve market confidence, and ease external sector pressure.
Source: TBS
