B Mirror Report: Bangladesh’s foreign exchange reserves increased to $37.65 billion as of July 2, driven by strong remittance inflows, according to the Bangladesh Bank.
Executive Director and spokesperson Arif Hossain Khan said the country’s gross foreign exchange reserves stood at $37.658 billion. Under the International Monetary Fund’s Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6) methodology, usable reserves totaled $33.01 billion.
The latest figures show an improvement from June 30, when gross reserves stood at $37.562 billion, while BPM6 reserves were $32.90 billion.
Bangladesh Bank officials attributed the increase largely to record remittance inflows in June. Expatriate Bangladeshis sent home $2.817 billion during the month, equivalent to about Tk 34,641 crore at the current exchange rate of Tk122 per US dollar.
Economists said continued growth in remittance inflows is helping strengthen the country’s foreign exchange reserves and supporting overall macroeconomic stability.
