Foreign Reserves Exceed $20Bn As Remittance Inflows Surge

Due to the rise in the price of the dollar, expatriates are sending more remittances, which has led to Bangladesh's foreign currency reserves crossing the $20 billion mark again.

According to data from the central bank on Monday (December 23), the country's gross foreign currency reserves stand at $24.84 billion.

As per BPM-6, this has increased to 2,042 crore 80 lakh US dollars (over $20 billion). However, the usable reserves are still within the $15 billion range.

Previously, on Thursday (December 19), the total reserves in the country were $24.95 billion. As per the IMF's recommendation for BPM, it was $19.95 billion.

In the first 21 days of this month, remittances over $2 billion were received, which is more than the total remittance amount for December of the previous year. In December 2023, remittances amounted to $1.99 billion.

Since the interim government took office, the foreign exchange rate has remained stable in line with market demand. Particularly, the dollar's price was around 120 taka. Additionally, the central bank stopped selling dollars from its reserves, which led to an increase in remittance flows. This helped in boosting the reserves.