Bangladesh Forex reserves cross $13bn

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Bangladesh Forex reserves cross $13bn

Forex reserves cross $13b

The country's foreign currency reserves yesterday crossed the $13 billion mark once again on the back of slowing imports and steady remittance growth, officials said.

“A rise in remittance inflow has contributed to strong reserves,” said Kazi Sayedur Rahman, general manager of Bangladesh Bank.

Foreign exchange reserves stood at $13.06 billion yesterday.

On January 7, the foreign currency reserves crossed the $13 billion mark for the first time, but after making payments to the Asian Clearing House, it came down to $12.63 billion on January 15.

Bangladesh received $1.28 billion remittance in December last year, up 11.79 percent from December 2011.

The country received $805.37 million in remittance between January 1 and 18, showed BB data.