The country's foreign exchange (forex) reserve crossed the US$ 23 billion-mark for the second time on Tuesday following lower import payment pressure, officials said.
The reserve rose to $ 23.05 billion on the day from $ 22.99 billion on the previous working day. It was $ 22.03 billion on February 26 last.
"Our forex reserve has crossed the $ 23 billion-mark again mainly due to steady growth in both export earnings and inward remittances despite political turmoil," Kazi Sayedur Rahman, general manager of Forex Reserve and Treasury Management Department of Bangladesh Bank (BB), told the FE.
The BB official said the country will be able to settle seven-month import bills with the existing forex reserve.
The downward trend in overall imports along with lower prices of petroleum products in the international market has also helped in raising the country's forex reserve, he added.
The country's overall imports fell substantially in February last following lower prices of fuel oil in the global market and the ongoing political unrest.
Opening of letters of credit (LCs) against imports declined by more than 9.0 per cent to US$ 3.05 billion in February last from $ 3.37 billion.
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Forex reserve crosses $ 23b-mark again
FE Report | Published: April 01, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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