Forex reserves hit record $ 31.9b at end-October

Bangladesh’s foreign exchange reserves hit a record $31.90 billion at the end of October, the central bank said on Tuesday, on the back of steady garment exports.

forexThe reserves, sufficient to cover about nine months’ worth of imports, are $4.32 billion higher than in the same period last year.

Steady garment exports and remittances from Bangladeshis working overseas, the key drivers of the country’s more than $200 billion economy, have helped build reserves in recent years.