Bangladesh’s forex reserves rises again to $22 billion under BPM6 method: BB

Bangladesh’s overseas alternate reserves have reached $22.04 billion as of 30 April, calculated in keeping with the IMF’s Steadiness of Funds and Worldwide Funding Place Guide (BPM6). 

Bangladesh Financial institution disclosed the data in a press release issued in the present day (30 April).

On 15 April, reserves stood at $21.18 billion.

The gross overseas alternate reserves, as per Bangladesh Financial institution’s calculation, now stands at $27.41 billion.

The rise in reserves is attributed to record-high remittance inflows final month, a development that has continued into the present month.

In a robust present of continued help from Bangladesh’s expatriates, the nation recorded $2.61 billion in remittance inflows in the course of the first 29 days of April, in keeping with the newest Bangladesh Financial institution information.

Remittance inflows stay sturdy even after the Eid festivities, highlighting the important contribution of migrant employees to the nation’s financial stability.

Trying on the traits from earlier within the yr, remittances have been constant.

In March, expatriates despatched a record-breaking $3.29 billion, whereas February noticed $2.53 billion, and January had $2.19 billion.

The earlier months additionally noticed substantial remittance inflows, with December reaching $2.64 billion, November at $2.2 billion, and October at $2.39 billion.

Within the first 9 months of the present fiscal yr (FY25), Bangladesh acquired a complete of $21.77 billion in remittances, a big enhance in comparison with the $17.07 billion remitted throughout the identical interval final fiscal yr (FY24).

The development signifies that remittances proceed to be a key driver for the nation’s overseas foreign money reserves.