News Karnataka
Saturday, December 10 2022

Bangladesh’s forex reserves surge to record high

Photo Credit :

Dhaka: Bangladesh’s foreign exchange reserves have soared past $42 billion amid the ongoing coronavirus pandemic, the central bank’s latest data revealed on Sunday.

According to the provisional Bangladesh Bank (BB) data, the country’s foreign exchange reserves stood at $42,094.90 million as of December 15 after reaching $41,269.02 million at the end of November, reports Xinhua news agency.

According to BB’s Forex Reserve and the Treasury Management Department data, this is the highest level of forex reserves Bangladesh has ever held.

Bangladesh’s foreign exchange reserves crossed the $41 billion in October amid a slump in import bills due to the pandemic that made businesses also sluggish in Bangladesh.

Experts said the current reserve level is good enough to support Bangladesh’s resilience to external odds, as well as to maintain macroeconomic stability in light of the unabated Covid-19 outbreak.

They said Bangladesh is in a position to pay more than 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 despite the economic impacts of the pandemic.

According to health authorities, the country’s overall coronavirus caseload has increased to 499,560, while the fatalities stood at 7,242.

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp