Bangladesh’s foreign exchange reserves have once again surpassed the $20 billion mark, primarily due to a steady increase in remittance inflows from overseas workers. This marks a positive shift, especially given the International Monetary Fund (IMF) calculation method, which reported an increase from $19.87 billion to over $20 billion within the past week.
In the first four months of the 2024-25 fiscal year (July to October), remittance inflows reached $8.93 billion, representing a 30% increase compared to the same period last year. Data from Bangladesh Bank also show that gross reserves rose from $25.44 billion to $25.72 billion over the past week. Earlier in September, foreign exchange reserves calculated by the IMF stood at $20.55 billion, underscoring steady growth in recent months.
This improvement in reserves, driven by remittances, is crucial in bolstering Bangladesh’s financial stability amid global economic fluctuations.
Source: Markedium
