Forex reserves climb past $37bn in two days

Country’s foreign exchange reserves have risen again, with gross reserves crossing the $37 billion mark to reach $37.35 billion, supported by stronger remittance inflows and increased foreign currency receipts.

According to Bangladesh Bank data released on Thursday (August 20), gross reserves stood at $37.348 billion as of August 20. Under the International Monetary Fund's BPM6 methodology, reserves stood at $32.533 billion.

Bangladesh Bank Executive Director and spokesperson Arif Hossain Khan confirmed the latest figures.

Just two days earlier, on August 18, gross reserves stood at $37.245 billion, while BPM6 reserves were $32.439 billion.

Gross reserves therefore increased by $103.37 million in two days, while reserves calculated under the BPM6 method rose by $93.99 million during the same period.

The latest increase comes amid stronger remittance inflows and improved foreign currency receipts, providing some relief to the country’s external position and foreign exchange liquidity.

However, gross reserves do not represent the entire amount available for immediate use. Under the IMF's BPM6 methodology, certain short-term liabilities and obligations, including amounts related to the Asian Clearing Union (ACU), are excluded from gross reserves to arrive at a more representative measure of usable foreign exchange reserves.