Bangladesh Forex Reserves Rise Above $26 Billion

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Bangladesh’s foreign exchange reserves have once again crossed the $26 billion mark, standing at $26.08 billion under the BPM-6 method, according to the Bangladesh Bank.

Central bank spokesperson and Executive Director Arief Hossain Khan said reserves picked up following higher remittance inflows and dollar purchases from commercial banks through auctions.

Earlier this month, reserves had slipped below $26 billion after a $1.5 billion payment to the Asian Clearing Union (ACU), bringing them down to $25.39 billion.

The ACU, which includes Bangladesh, Bhutan, India, Iran, the Maldives, Myanmar, Nepal, Pakistan and Sri Lanka, enables member countries to settle import liabilities every two months.