BB income from foreign currency reserve jumps

Business Report :
Bangladesh Bank’s income from foreign currency reserves has gone up 108 percent year-on-year to Tk 6,000 crore in fiscal year 2022-23, as per the central bank’s annual report.

The rise was due to foreign currency revaluations and a USD selling spree of the central bank, said its officials.

The BB has pumped nearly $14 billion into banks from its forex reserve in fiscal year 2022-23.

The central bank finalised its annual accounts for the last fiscal year yesterday, all approved in a meeting of its board of directors presided over by Bangladesh Bank Governor Abdur Rouf Talukder.

The jump was due to foreign currency revaluations and a USD selling spree of the central bank, said officials.
Incomes from both foreign and local currency-based financial assets had increased, Md Mezbaul Haque, Bangladesh Bank executive director and spokesperson.

As a result, the net profit of the central bank has increased, he added.