Bangladesh’s foreign exchange reserves stood at $34.77 billion on Monday, according to the latest data released by Bangladesh Bank.
The central bank said the reserves were recorded at $30.11 billion under the International Monetary Fund’s (IMF) Balance of Payments and International Investment Position Manual sixth edition.
The method, widely known as BPM-6, is an international standard used by the IMF to measure a country’s usable foreign exchange reserves after excluding short-term liabilities and funds that are not immediately available for spending.
Foreign exchange reserves are foreign currencies and assets held by the central bank to pay import bills, repay overseas loans, support the local currency and maintain stability in international trade and payments.
Bangladesh Bank officials said the latest reserve position reflected stability in the country’s external sector despite ongoing global economic uncertainties.
The country’s reserves have faced pressure in recent years due to higher import costs, repayments of foreign loans, shortages of US dollars in the banking sector and global economic disruptions linked to inflation and geopolitical tensions.
Inward remittances from Bangladeshis working abroad emerged as the lifeline for reserve recovery, while exports remained volatile.
In the first 11 months of the fiscal year, Bangladesh received nearly $32.76 billion in remittances, up by 19.09 per cent year-on-year.
