Bangladesh’s May forex reserves fall to 32.35 bln USD

DHAKA, June 12 (NsNewsWire) — Bangladesh’s foreign exchange reserves reached 32.35 billion U.S. dollars at the end of May, said a central bank official on Monday.
The Bangladesh Bank (BB) Forex Reserve and Treasury Management Department official, on condition of anonymity, told Xinhua that “the country’s foreign exchange reserves stood at 32,348.69 million U.S. dollars in May after reaching 33,109.53 million U.S. dollars on April 30.”
Bangladesh’s foreign exchange reserves crossed the 33-billion-U.S. dollar mark in June last year amid a boom in inflow of remittances ahead of one of the biggest Muslim religious festivals Eid-ul-Fitr that marks the end of the Islamic holy fasting month of Ramadan.
The BB official said foreign reserves will likely reach record high this month as the country has been receiving huge remittances from over 10 million non-resident Bangladeshis (NRBs) who are sending home more money for this year’s Eid-ul-fitr slated for on around June 16.
In December 2016, the country’s foreign reserves reached 32 billion U.S. dollars.  Enditem