Bangladesh’s foreign exchange reserves stood at $36.12 billion on Wednesday (October 7), while reserves calculated under the IMF’s BPM6 methodology stood at $31.31 billion, according to Bangladesh Bank.
A Bangladesh Bank official said the country’s gross foreign exchange reserves reached $36.12 billion as of October 7.
Meanwhile, the country received $513 million in remittances during the first five days of October, according to the central bank’s latest data. Remittance inflows reached $109 million on October 5 alone.
The strong remittance inflow is expected to support the country’s foreign exchange liquidity and help strengthen the reserves position, while providing greater support for import payments and other external transactions.
Bangladesh Bank has been closely monitoring the country’s foreign exchange position as remittance inflows and export earnings remain key sources of foreign currency for the economy.
Of the total reserves, $31.31 billion is calculated according to the IMF’s BPM6 methodology, which provides a standardised basis for measuring a country’s international reserves and external assets.
-AH