Backed by IMF, remittances, Bangladesh’s Forex reserves hit $27.3 billion

Bangladesh’s foreign exchange reserves have surged to $27.31 billion, bolstered by record remittance inflows and fresh disbursements from the International Monetary Fund (IMF).

Arif Hossain Khan, Executive Director and spokesperson of Bangladesh Bank, told UNB on Wednesday that the recent rise in reserves was driven by subdued import demand and increased foreign aid inflows in recent months.

This marks a notable rise from the central bank’s previous update on Monday (June 23) when gross reserves were recorded at $26.82 billion. But, under the IMF’s Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6), the reserves were reported at $21.75 billion on that date.

Earlier, on May 27, the country’s gross reserves stood at around $25.80 billion, while the BPM6-adjusted figure was $20.56 billion.

Experts said maintaining foreign exchange reserves equivalent to at least three months of import expenses is considered essential for economic stability. By that benchmark, Bangladesh remains at a critical juncture.

Foreign currency reserves are widely seen as a key indicator of a country’s macroeconomic health.