Forex reserves rise to $21b with remittance, export growth
Staff Reporter :
Bangladesh’s foreign exchange reserves have crossed the $21 billion mark for the first time in nearly 10 months, bolstered by a significant rise in remittances and export earnings.
As of Sunday, the reserves stood at $21.11 billion, up from $20.89 billion the previous day, according to the latest data from the central bank.
This marks the first time since July of the previous year that reserves have surpassed the $21 billion threshold. Gross reserves, based on the central bank’s calculations, also saw an increase, rising to $26.38 billion, up from $26.14 billion recorded on Thursday.
Arif Hossain Khan, Executive Director and spokesperson for Bangladesh Bank, attributed the growth to the upward trend in remittances and export earnings.
Additionally, measures taken by the interim government to curb money laundering have further contributed to the increase in reserves.
Remittances in March reached an all-time high of $3.29 billion, the highest monthly inflow in the country’s history.
This has played a significant role in bolstering foreign exchange reserves. Meanwhile, export earnings for March also saw strong growth, amounting to $4.25 billion, marking an 11.44 percent increase compared to $3.81 billion in the same month last year.
For the first nine months of the 2024-25 fiscal year (July-March), Bangladesh’s export sector has recorded $37.19 billion in earnings, reflecting a 10.63 percent growth compared to $33.61 billion during the same period last fiscal year.
In terms of remittances, expatriates sent a total of $21.77 billion from July to March, significantly higher than the $17.07 billion recorded in the same period of the previous fiscal year. This represents a 27.6 percent year-on-year increase.
At the end of March 2025, Bangladesh’s gross reserves stood at $25.63 billion, while net reserves, as per the International Monetary Fund’s (IMF) methodology, amounted to $20.46 billion.
The surge in remittances, particularly the record inflow of $3.29 billion in March, has been a key driver behind this growth, reinforcing the country’s foreign currency reserves and providing a buffer against external financial pressures.