Bangladesh’s foreign exchange reserves have surpassed $32 billion following a $107 million purchase by Bangladesh Bank from commercial lenders on Thursday, according to central bank sources.
Using the International Monetary Fund’s BPM 6 method, Bangladesh’s reserves are now reported to have crossed $27 billion.
Exports have experienced a decline for the second consecutive month in September, following a sharp one-fourth surge in July, according to the Export Promotion Bureau.
Despite this, inward remittance from expatriate workers and the Bangladeshi diaspora has continued its steady growth.
As of 7 October, remittance inflow stood at $8.278 billion, marking a 14.6% increase year on year, according to Bangladesh Bank.
In the past three months, the central bank purchased nearly $2 billion from commercial banks to boost its reserves and inject liquidity into the banking system.
