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Dhaka, March 7 – Bangladesh’s foreign exchange reserves reached over $32 billion by the end of February, according to the latest central bank data.
Bangladesh Bank (BB) data showed the country’s foreign exchange reserves stood at $32,333.71 million on February 28 compared with $32,222.6 million on January 31, reports Xinhua news agency.
For a growing economy like Bangladesh, forex reserves equivalent to six months’ import bills are considered adequate.
With the existing reserves, however, central bank officials said Bangladesh is in a position to pay over 5 months’ import bills.
Bangladesh’s foreign exchange reserves hit an all-time high of $48 billion in August 2021.
In a bid to boost shrinking forex reserves, the central bank has taken various measures, including relaxed rules, to woo more remittances from millions of Bangladeshi people living and working abroad in recent months.