Bangladesh has received the $690-million second tranche of its $4.703 billion loan from the International Monetary Fund (IMF) and $400 million loan from the Asian Development Bank (ADB) budget support loan. It means around $1.09 billion has been added with Bangladesh's foreign exchange reserves, amid dollar short supply in the domestic
Tag: Forex reserves
Forex reserves’ import coverage strength at 6yr low: Mastercard
Bangladesh can now cover four months' import cost with its foreign currency reserves, which is the lowest in the last six years, according to the Mastercard Economic Institute. The information was revealed at a roundtable discussion on the "State of the Global, Regional, and Bangladesh Economic Outlook" organised by Mastercard on
Country gets $10.49b remittances in six months: BB
Bangladesh received USD $1.70 billion inward remittance in December 2022 through the banking channel, up by 4.23 percent compared to the same month of the previous year. In November, the expatriates sent home $1.59 billion through the legal channel, according to Bangladesh Bank an updated report released on Sunday. The central bank
Exports cross $5b in Nov amid dwindling forex reserve
Bangladesh earned over $5 billion from merchandise exports in November, a record income in a month thanks to a surge in the apparel exports, according to officials figures. The November export earnings of $5.09 reported by Export Promotion Bureau on Thursday surpassed the previous monthly highest income of $4,098 billion in
Banks have enough money, reserve is strong: PM
Better to spend forex reserves on welfare than keeping it idle: PM
Country’s forex reserves now $34.3b: As per IMF formula it’s $26.3b
Bangladesh's foreign exchange reserves is falling due to meeting import demand of essential goods and a downward trend in remittance-export incomes, the latest data of Bangladesh Bank revealed. After paying $1.35 billion to Asian Clearing Union (ACU) as an import bill for September-October, and $131 million spent to meet LC
BB to go slow in following IMF to calculate forex reserves
The Bangladesh Bank has recently agreed to calculate foreign exchange reserves following the international standard as advised by the International Monetary Fund (IMF), but the process will be slow considering it as a national sensitive issue, an official said on Sunday. As per IMF suggestions, the central bank must follow the
Bangladesh’s trade deficit crosses $33b in FY22
The country’s deficit in trade in goods with the rest of the world crossed US$33 billion in the last fiscal year (FY22), according to the central bank’s updated statistics released on Monday. It showed that the merchandise trade deficit stood at $33.25 billion in the last fiscal year (FY22) which was
Forex reserves enough to meet 6-9 months’ import bills: PM
Prime Minister Sheikh Hasina on Wednesday said Bangladesh would be able to meet six to nine months of import expenditures with the existing foreign currency reserves. "We have money in our hands to import foodgrains and others (essentials items) for at least three months during any crisis. We'll be able to