Forex reserves hit multi-month high

Staff Reporter :

Bangladesh’s foreign exchange reserves have crossed the $22 billion threshold for the first time in several months, bolstered by a steady inflow of remittances and export earnings.

According to the International Monetary Fund (IMF) calculation method, reserves stood at $22.04 billion as of Wednesday, rising from $21.41 billion the previous week, based on the latest data from the Bangladesh Bank. On 15 April, the figure stood at $21.18 billion.

The central bank’s own calculation places the gross foreign exchange reserves even higher, at $27.41 billion.

The recent uptick is largely attributed to record-high remittance inflows in recent months – a trend that has sustained momentum into April.

During the first 29 days of April alone, remittance inflows reached $2.61 billion, according to Bangladesh Bank data. The flow remained strong even after Eid celebrations, underscoring the continued contribution of the country’s expatriate community to macroeconomic stability.

This follows a peak in March, when expatriate workers remitted a record $3.29 billion. February and January also recorded substantial inflows of $2.53 billion and $2.19 billion, respectively. Previous months similarly reflected strong performance, with December remittances totalling $2.64 billion, November $2.2 billion, and October $2.39 billion.

Over the first nine months of the current fiscal year (FY25), Bangladesh received $21.77 billion in remittances – a significant rise compared to the $17.07 billion received during the same period in FY24.

The data reinforces the vital role of remittances in sustaining the country’s foreign currency reserves and overall external sector stability.