Foreign currency reserves have crossed US$25.6 billion mark at the end of March thanks to a record inflow of remittances
this month. The country's gross reserves have risen to $25.63 billion, according to data released by the Bangladesh Bank (BB) yesterday.
The surge came after a significant increase in remittance inflows, which reached $3.29 billion in March, the highest for any month in the country's history.
However, as per the International Monetary Fund (IMF) methodology under the Balance of Payments and International Investment Position Manual (BPM6), Bangladesh's net reserves currently stand at $20.46 billion.
According to the central bank's statistics, expatriate income was $1.99 billion in March 2024. The growth rate over a year has stood at 64.7 percent.
In addition, in the first 9 months (July-March) of the current 2024-25 fiscal year, remittances amounted to $2,177 billion. This is 27.6 percent more than the same period of the previous fiscal year.
According to Bangladesh Bank, remittances of more than $2 billion have been coming in every month for seven consecutive months. In February of this year alone, $2.528 billion came in. This is 17 percent more than the previous year.
