DHAKA Dec 1 Bangladesh's foreign exchange
reserves slipped to $17.11 billion at the end of November from a
record high of $17.35 billion in October, but were up from
$11.75 billion a year earlier, the central bank said on Sunday.
Reserves fell in November as a result of scheduled
bi-monthly import payments to the Asian Clearing Union totalling
about $800 million, a senior central bank official said.
The reserves are enough to cover more than five months of
Rising exports, the slow pace of imports and steady
remittances from Bangladeshis working overseas have helped build
Bangladesh's exports in the period from July to October rose
16.5 percent on the year to $9.75 billion, boosted by stronger
clothing sales, as the low-cost country retains its allure for
cost-crunching global retailers despite deadly accidents.
The country's $20 billion garment industry, which supplies
many Western retailers, has been in the spotlight after several
grim incidents, including a building collapse in April that
killed more than 1,130 people.
Economic growth is expected to slow to less than 6 percent
in the year to June 2014 from 6 percent the previous year as
political uncertainty and turmoil ahead of elections set for
Jan. 5 take their toll.
(Reporting by Ruma Paul)