The country’s foreign currency reserves are increasing due to a rise in remittance inflow. In March, remittances reached a record high of $3.29 billion, which is equivalent to Tk 40,138 crore in Bangladeshi currency.
As a result, the country’s total foreign exchange reserves have risen to $25.62 billion, informed Arif Hossain Khan, spokesperson and executive director of Bangladesh Bank, on Sunday.
According to the latest updated data from the central bank, as of April 6, the gross reserve stands at $25.62 billion, or $2,562.538 billion. Meanwhile, as per the IMF’s BPM6 (Balance of Payments and International Investment Position Manual - version 6) accounting standard, the reserve now stands at $20.46 billion, or $2,046.052 billion.
Previously, on March 27, Bangladesh Bank reported that the gross reserve at that point was $25.44 billion, or $2,544.088 billion. According to the IMF’s BPM6 method, the reserve at that time was $20.29 billion, or $2,029.693 billion.
Meanwhile, in the first month (July) of the current fiscal year (2024–25), the country received $1.91377 billion in remittances. This was followed by $2.22132 billion in August, $2.4041 billion in September, $2.395 billion in October, $2.2 billion in November, and $2.64 billion in December.
To note, the net reserves are calculated based on the IMF's BPM6 method. The net or actual reserve amount is derived by subtracting short-term liabilities from the gross reserve.
