Forex reserves cross $18b

Bangladesh’s foreign exchange reserves crossed $18 billion for the first time yesterday with the help of a rise in exports and inflow of remittances and decline in imports, data from Bangladesh Bank showed.
Presently, the reserves—$18.05 billion—are sufficient to meet the country’s six months’ import bills. The forex reserve was $17.83 billion on Tuesday.
“Growth in exports and remittances helped the reserves move past $18 billion,” said Kazi Sayedur Rahman, general manager of the BB’s Foreign Exchange and Treasury Management Division.

Rahman said exports grew by over 18 percent and remittances nearly 10 percent during July-November period of this year. Import growth was only 8.5 percent for the same period.
Bangladesh has the second highest reserves after India in South Asia, according to the central bank.