Forex reserves top $ 17 bln again

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Offline Saqueeb

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Forex reserves top $ 17 bln again
« on: December 08, 2013, 09:19:37 PM »
Bangladesh Bank's foreign currency reserves have crossed the $17-billion mark for the second time in two months thanks to buoyant remittance flow and export income.

In October, the reserves were above $17 bln but it came down below the mark after paying the Asian Clearing Union (ACU) import bills.

Kazi Saidur Rahman, who heads the bank's Forex Division, said the reserves were $17.07 bln at the end of Thursday.

"It is mainly because of remittance flow and the positive impact of export earning," he told bdnews24.com.

The reserves had reached a record $17-bln mark last October.

It subsequently came down below $16 bln after paying the ACU's $0.87 bln in import bill in the first week of November.
Nazmus Saqueeb
Sr. Lecturer, Dept. of Pharmacy,
Daffodil International University.