Bangladesh’s foreign exchange reserves reached nearly 33 billion U.S. dollars by the end of August, central bank data showed on Sunday.
Bangladesh Bank (BB) data showed the country’s foreign exchange reserves stood at 32,925.14 million U.S. dollars in August compared with 32,078.60 million U.S. dollars in July.
With the existing reserves, officials said Bangladesh is in a position to pay over seven months’ import bills.
For a growing economy like Bangladesh, forex reserves equivalent to about six months’ import bills are considered adequate.
Bangladesh’s foreign exchange reserves crossed the 33-billion-U.S. dollar mark in June 2017 amid a boom in the inflow of remittances ahead of one of the biggest Muslim religious festivals Eid-ul-Fitr that marks the end of the Islamic holy fasting month of Ramadan.