Bangladesh Bank’s gross foreign exchange reserves according to the IMF’s BPM6 calculation methodology have stabilized above $21.2 billion, buoyed by surging formal remittance receipts and disciplined import invoicing.
Expatriate wage earners remitted over $2.25 billion in the preceding month as the narrowing spread between official banking exchange rates and informal kerb market rates disincentivized illicit hundi networks.
"Our objective is to maintain at least four months of import coverage while rebuilding sovereign liquidity buffers without squeezing essential raw material imports for export-oriented factories," a central bank spokesperson stated.
The rebound provides crucial breathing space for Bangladesh Bank as it continues macroeconomic consultations with the World Bank and bilateral development partners.
