Foreign exchange reserves hit record $33.49b

Foreign exchange reserves hit a record $33.49 billion at the end of June, fuelled by remittances from Bangladeshis working abroad a head of Eid-ul-Fitr, Bangladesh Bank said yesterday.

The reserves are sufficient to cover about 10 months' worth of imports, and are $3.45 billion higher than a year ago.

The exchange reserves stood at US$32.73 billion on June 14.

At the end of May 2017, reserves were $32.24 billion. The latest figure was $.49 billion above the May 2017 level and $3.3 billion above the 14 June 2016 level.

Steady garment exports and remittances from Bangladeshis working overseas have helped build reserves in recent years.

Foreign exchange reserves hit record $33.49b

Foreign exchange reserves hit a record $33.49 billion at the end of June, fuelled by remittances from Bangladeshis working abroad a head of Eid-ul-Fitr, Bangladesh Bank said yesterday. The reserves are sufficient to cover about 10 months worth of imports, and are $3.45 billion higher than a year ago. The exchange reserves stood at US$32.73 billion on June 14. At the end of May 2017, reserves were $32.24 billion. The latest figure was $.49 billion above the May 2017 level and $3.3 billion above the 14 June 2016 level. Steady garment exports and remittances from Bangladeshis working overseas have helped build reserves in recent years.