Bangladesh’s foreign exchange reserves hit a record $27.49 billion at the end of December, the central bank said on Sunday, fuelled by steady exports and remittances.
The slower pace of import growth, on the back of a fall in global commodities prices, also helped boost reserves
The reserves are sufficient to cover seven months of imports.
Bangladesh’s exports in July-November, the first five months of the current financial year, rose 6.7 percent from a year earlier to $12.88 billion, led by strong garment sales even though the key industry has suffered a string of fatal factory accidents.
Garment exports and remittances from Bangladeshis working overseas – two mainstay revenue generators for the country of 160 million people – have helped foreign exchange reserves grow steadily in recent years.
Reuters
