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Forex reserves exceed $19 billion

 VB  Desk

VB Desk

Bangladesh's foreign exchange reserves have climbed above $19 billion after nearly a month, driven by increases in remittances and export earnings.

According to Bangladesh Bank, the reserves currently stand at $24.75 billion, but under the International Monetary Fund’s (IMF) accounting rules, the figure is $19.20 billion. And the expendable reserve reserves are close to $15 billion.

The reserves could exceed $20 billion in December if Bangladesh secures a $1 billion loan from the World Bank.

The reserves dropped to $18.45 billion (BPM-6 standard) on November 11 after a $1.50 billion payment to the ACU for import bills from September and October. However, consistent remittance inflows and export revenues have driven the reserves back above the $19 billion mark within a month.

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