Forex Reserves Rise to $33.18 Billion: Bangladesh Bank
A positive trend has returned to Bangladesh's foreign exchange reserves. According to the latest data from Bangladesh Bank, reserves have risen to $33.18 billion. The central bank spokesperson confirmed this information at a press conference on Friday (January 02). It was reported that this growth in reserves has been possible due to the increase in remittance inflow and a good trend in export earnings.
New Record in Remittance
Expatriates have been sending record amounts of remittance for the past few months. Due to the government's 2.5 percent incentive and the adjustment of the dollar exchange rate with the market, expatriates are becoming interested in sending money through banking channels rather than hundi. As a result, the central bank's dollar reserves are being enriched. Analysts say the increase in manpower export and the confidence of expatriates are the main reasons for this success.
Growth in Export Earnings
Earnings from the readymade garments sector and other export products also increased significantly in the last quarter of last year. Export earnings have exceeded the target due to increased demand in the world market and the creation of new markets. Bangladesh Bank said that reducing import costs slightly and imposing strictness on the import of unnecessary goods also played a helpful role in increasing reserves.
IMF Loan Installment
Recently, another installment of the International Monetary Fund (IMF) loan has been released and added to the reserves. As a result, the pressure on foreign currency has reduced significantly. Economists believe that this stability of reserves will help maintain the value of the taka against the dollar and have a positive impact on controlling inflation.
Future Economic Outlook
Experts see the increase in reserves as a relief for the country's economy. They say 2026 could be a year of economic turnaround. However, to continue this trend, emphasis must be placed on attracting foreign investment along with keeping remittance and export flows active. Bangladesh Bank also said they are in a cautious position to keep the money market stable.
