Bangladesh’s foreign exchange reserve hits all-time high
By Sheuli Akter,
DHAKA, Oct. 22 (NsNewsWire) — Bangladesh’s foreign exchange reserve hit an all-time high of over 17 billion U.S. dollars on the back of an increase in exports and inflow of remittances ahead of the biggest Islamic religious festival, said an official Tuesday.
AFM Asaduzzaman, senior spokesman of Bangladesh Bank, told NsNewsWire that the country’s “foreign exchange reserve reached a record amount of 17,106.93 million U.S. dollars Tuesday.”
Bangladesh’s foreign exchange reserves in the middle of August touched the 16 billion U.S. dollar mark for the first time, reflecting the country’s strength from the economical and financial point of view.
The South Asian nation of about 153 million people needs a reserve of about 10 billion U.S. dollars to meet its import bills for three months, an international standard to maintain foreign currency reserve.