Bangladesh’s forex reserves exceed 33 bln USD in April

DHAKA, May  8 (NsNewsWire) — Bangladesh’s foreign exchange reserves exceeded 33 billion U.S. dollars by the end of April, said the country’s central bank on Tuesday.
An official with the Bangladesh Bank (BB) Forex Reserve and Treasury Management Department told Xinhua that foreign exchange reserves stood at 33,109.53 million U.S. dollars in April compared with 32,401.77 million U.S. dollars in March.
Bangladesh’s foreign exchange reserves crossed the 33-billion-U.S. dollar mark in June 2017 amid a boom in the inflow of remittances ahead of one of the biggest Muslim religious festival Eid-ul-Fitr.
The country’s foreign reserves also reached nearly 32 billion U.S. dollars in January last year.
Officials said Bangladesh is in a position to pay over 10 months’ import bills with the existing reserves, which are also enough to help the central bank’s efforts in keeping the foreign exchange market stable.