Reserves cross $20 billion again

The country's foreign exchange reserves have crossed $20 billion again. After paying off the import liabilities of Akur last September, the reserves fell below $19 billion. The reserves have increased due to increased remittances and export earnings. Bangladesh Bank Executive Director and Spokesperson Husne Ara Shikha confirmed this information.

According to the data, on Monday, the gross reserves stood at $20.16 billion according to the International Monetary Fund (IMF) BPM-6. At that time, Bangladesh Bank's own reserves were $24.98 billion.

Earlier, on December 18, the reserves were $19.96 billion according to BPM-6. After paying off the liabilities of Akur, the reserves were $18.19 billion on November 12.

Central bank officials said that remittance growth has been good for the past few months. Export earnings have also increased. In addition, Bangladesh Bank has bought dollars from commercial banks to increase reserves according to the IMF's target. As a result, the reserves have increased.

In the 21 days of this December, expatriate income exceeded $2 billion, which is about 28 percent more than the same period last year. If this trend of remittances continues, it will exceed $27 billion by the end of 2024. So far this year, remittances to the country have reached $26.25 billion.