Forex reserves cross $22b again

Foreign currency reserves crossed $22 billion for the third time in five months, buoyed by the release of funds from development partners and a steady inflow of remittances.

Forex reserves were $22.06 billion yesterday, said an official of Bangladesh Bank.

In the first 12 days of December, remittances were $558 million, the Asian Development Bank released $70 million and the UN released $36 million for peacekeepers.

As the supply of greenbacks increased, the demand for foreign currency fell, the official said, adding that many banks have been showing interest to sell dollars instead of buying it from the central bank.

In December, the import normally remains low, dampening demand for dollars, he said.

As the reserves went up, BB Governor Atiur Rahman expressed satisfaction at a meeting with the chief executives of banks.

Rahman said the economic indicators remained positive this year thanks to the stable political situation.