Forex reserves top $22bn amid remittance, export rise

Bangladesh’s foreign exchange reserves have crossed the $22 billion mark after several months, buoyed by higher remittance inflows and export earnings.

According to the International Monetary Fund’s (IMF) calculation method, the reserves stood at $22.04 billion as of yesterday, up from $21.41 billion a week ago, Bangladesh Bank data shows.

As per the central bank’s own method, gross forex reserves reached $27.41 billion, an increase from $26.76 billion a week earlier.

Central bank officials attributed the improvement to a steady rise in remittances and exports.

Remittance inflow reached a record $3.29 billion in March—the highest monthly amount in the country’s history. In April, the inflow stood at $2.61 billion during the first 29 days, according to central bank figures.