BM Desk : An increase in remittance inflow is contributing to the country’s growing foreign exchange reserves. The record-breaking amount of remittances in March was $3.29 billion, or Tk 40,138 crore in Bangladeshi currency.
As a result, Bangladesh Bank executive director and spokesperson Arif Hossain Khan announced on Sunday that the nation’s overall foreign exchange reserves had increased to $25.62 billion.
As of April 6, the central bank’s most recent updated data shows that the gross reserve is $25.62 billion, or $2,562.538 billion. The reserve now stands at $20.46 billion, or $2,046.052 billion, in accordance with the IMF’s BPM6 (Balance of Payments and International Investment Position Manual, version 6) accounting standard.
Bangladesh Bank previously said that the gross reserve was $25.44 billion, or $2,544.088 billion, on March 27. The reserve at the time was $20.29 billion, or $2,029.693 billion, based on the IMF’s BPM6 approach.
Meanwhile, the nation collected $1.91377 billion in remittances in July, the first month of the current fiscal year (2024–25). August saw $2.22132 billion, September saw $2.4041 billion, October saw $2.395 billion, November saw $2.2 billion, and December saw $2.64 billion.
It should be noted that the IMF’s BPM6 method is used to determine net reserves. Short-term liabilities are subtracted from the gross reserve to determine the net or actual reserve amount.
