5:16 pm - Tuesday May 23, 6282

Forex reserves hit record $ 28bn

Bangladesh’s foreign exchange reserves hit a record $28.06 billion at the end of February, the central bank said on Tuesday, fuelled by steady exports and lower import costs due to falling global commodities prices.


The reserves, sufficient to cover seven months’ worth of imports, are nearly 22 percent higher than during the same period last year.

Rising garment exports and steady remittances from Bangladesh nationals working overseas, two mainstay revenue generators for the country of 160 million people, have helped foreign exchange reserves grow steadily in recent years.

-Business Recorder