Online Report : Bangladesh’s foreign currency reserves have seen a significant rise, crossing $27 billion mark, driven by renewed remittance inflows and a recent disbursement from International Monetary Fund (IMF).

According to the latest data from Bangladesh Bank, the country’s gross foreign exchange reserves currently stand at $27.30 billion, marking a notable increase from previous levels. When calculated under the Balance of Payments and International Investment Position Manual (BPM6), the reserves stand at $22.24 billion.

Bangladesh Bank’s spokesperson and Executive Director, Arif Hossain Khan, confirmed the figures to the media on Tuesday.

As of June 23, the gross reserves were $26.82 billion, with $21.75 billion recorded under BPM6 standard.

On June 15, reserves stood at $26.15 billion (gross) and $20.86 billion (BPM6), while on May 27, they were $25.80 billion (gross) and $20.56 billion (BPM6).

Historically, Bangladesh’s reserves were much lower. In June 2013, the gross reserves stood at only $15.32 billion.

Over time, this steadily increased; reaching $33.68 billion in 2018 and climbing to $39 billion by September 2020. The reserves hit an all-time high of $48.04 billion on August 24, 2021, even amid the global economic downturn caused by COVID-19.

However, since 2022, the reserves had been steadily declining due to a dollar shortage, rising import bills and broader economic pressures.

Experts suggest that to maintain economic stability, a country should ideally hold reserves equal to at least three months’ worth of import expenses. Bangladesh is currently nearing that threshold. While this still signals caution for the economy, the recent upward trend in reserves is viewed as a positive development.