Bangladesh forex reserves rise to US$33.2b by Dec-end – Business News

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DHAKA: Bangladesh’s foreign exchange reserves rose to $33.23 billion by the end of December, $630 million more than the previous month, the central bank said on Monday.

The reserves were up nearly 3.4 percent from a year earlier, and are sufficient to cover about 10 months’ worth of imports for the country of 160 million people.

Steady garment exports and remittances from Bangladeshis working overseas – the key drivers of the country’s more-than $250 billion economy – have helped foreign exchange reserves grow steadily in recent years.

Bangladesh’s economic growth hit a record 7.28 percent in the financial year ending June 2017, up from 7.11 percent the previous year. – Reuters

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