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Bangladesh foreign exchange reserves hit record at end-June
July 2, 2017 / 6:55 AM / 5 months ago

Bangladesh foreign exchange reserves hit record at end-June

DHAKA (Reuters) - Bangladesh’s foreign exchange reserves hit a record $33.49 billion at the end of June, the central bank said on Sunday, up $1.24 million from the previous month.

The reserves are sufficient to cover about 10 months’ worth of imports for the country of 160 million people, and are $3.45 billion higher than a year ago.

Steady garment exports and remittances from Bangladeshis working overseas, the key drivers of the country’s more than $200 billion economy, have helped foreign exchange reserves grow steadily in recent years.

Reporting by Ruma Paul

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