October 2, 2018 / 7:51 AM / 7 months ago

Bangladesh foreign exchange reserves fall to $31.96 bln at end-Sept

DHAKA, Oct 2 (Reuters) - Bangladesh’s foreign exchange reserves fell to $31.96 billion at the end of September from $32.93 billion the previous month and were down nearly 2.6 percent from a year earlier, the central bank said on Tuesday.

The decline was fuelled by a rise in imports, a senior central bank official said, adding the reserves were sufficient to cover about 10 months’ worth of imports for the country of 160 million people.

However, 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.

Reporting by Ruma Paul; Editing by Kim Coghill

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