Highlights
- Total forex reserves now stand at $27.34 billion
- Growth driven by increased remittance inflow and export earnings
- Central Bank buying dollars through auctions from commercial banks
Reserve Reaches New High
Bangladesh Bank’s gross foreign currency reserves have risen to $27.34 billion, marking a positive shift in the country’s foreign exchange position.
On Wednesday evening (October 29), the central bank’s spokesperson and Executive Director Arif Hossain Khan confirmed the information to journalists.
Why the Reserves Are Increasing
According to Bangladesh Bank officials, the rise in reserves is mainly due to a steady increase in remittance inflows and higher export earnings. As a result, commercial banks now have more dollars in supply.
“নিজের ব্যবসার জন্য এখন নিজের ওয়েবসাইট — মাত্র কয়েক মিনিটে Storola দিয়ে!”
After meeting their own needs, these banks are selling extra dollars to other banks and the central bank, which is adding the surplus amount to the country’s reserves.
Official Statement
Speaking to The Business Standard, Arif Hossain Khan explained:
“The reserve is increasing due to the rise in remittance inflows and the central bank’s purchase of dollars from commercial banks through auctions.”
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Positive Economic Indicator
This growth in the reserve is seen as a positive sign for Bangladesh’s economy, indicating improved inflow of foreign currency and growing stability in the financial system.
Experts believe that maintaining this upward trend will help strengthen the country’s external balance and import payment capacity in the coming months.
