Bangladesh’s foreign exchange reserves have surpassed the $32 billion mark, showing signs of stability after months of fluctuations.
According to the latest data from Bangladesh Bank, the country’s gross reserves stood at $32.12 billion at the end of Thursday (December 11). Under the IMF’s BPM–6 methodology, reserves were calculated at $27.45 billion.
Bangladesh Bank Executive Director and spokesperson Arif Hossain Khan confirmed the figures, noting that the reserves have gradually recovered after a dip following payments of $161 million to the Asian Clearing Union (ACU) for September and October, which had brought reserves down to $31.14 billion on November 9. As of December 10, gross reserves were $31.89 billion, while BPM–6 reserves stood at $27.22 billion.
Experts highlight that usable reserves calculated by excluding IMF SDRs, foreign currency in banks’ clearing accounts, and ACU bills have now exceeded $22 billion, sufficient to cover around four months of import costs, well above the minimum recommended three months.
Bangladesh Bank’s reserves had peaked at $48 billion in August 2021 but fell sharply in the post-COVID-19 period due to rising import bills, trade deficits, and unprecedented financial outflows linked to illicit activities. Depreciation of the Taka against the dollar further pressured reserves, prompting the central bank to sell dollars to stabilize the market. To bolster reserves, Bangladesh sought $470 million in assistance from the IMF in July 2022.
The recent recovery in reserves reflects improved foreign inflows and a stabilizing economic outlook, providing a buffer for the country’s import payments and external obligations.
