Staff Reporter :
Bangladesh Bank (BB) has delivered positive news regarding the country’s foreign exchange reserves, which have surpassed $25 billion before the end of March, following a record influx of remittances this month.
According to data released by the central bank on Thursday, the country’s gross reserves have risen to $25.44 billion. This surge follows a significant increase in remittance inflows, which reached $2.94 billion in the first 26 days of March – the highest amount ever recorded in a single month.
However, under the International Monetary Fund (IMF) methodology, as per the Balance of Payments and International Investment Position Manual (BPM6), Bangladesh’s net reserves currently stand at $20.29 billion. Net reserves are calculated by deducting short-term liabilities from gross reserves.
On March 9, Bangladesh paid $1.75 billion to settle import bills through the Asian Clearing Union (ACU), which temporarily reduced the gross reserves to below $25 billion and the net reserves to below $20 billion.
After this payment, the reserves under the BPM6 standard dropped to $19.75 billion, but they have since rebounded above the $20 billion mark.
The surge in remittances has played a crucial role in replenishing the reserves, providing much-needed relief to the economy ahead of Eid. Central bank officials remain optimistic that continued inflows will further stabilise the country’s foreign exchange reserves.
Bangladesh Bank’s spokesperson and Executive Director, Arif Hossain Khan, confirmed the latest reserve figures and expressed confidence in the country’s external financial position. With the upcoming Eid festivities, the record remittance inflows have provided a timely boost to the economy, offering optimism amid ongoing financial challenges.
