Bangladesh’s net forex reserves reach over 20 bln USD in August

Dhaka: Bangladesh's foreign exchange reserves reached more than 20 billion U.S. dollars by the end of August, the latest central bank data showed. The country's foreign exchange reserves stood at 20.55 billion dollars on Aug. 29, the last working day of the previous month. The bank said gross reserves were 25.57 billion dollars by the end of August. For a growing economy like Bangladesh, forex reserves equivalent to six months' import bills are considered adequate. With the existing reserves, however, central bank officials said Bangladesh is in a position to pay some four months' import bills. Bangladesh's gross foreign exchange reserves hit an all-time high of 48 billion dollars in August 2021. Source: The Namibia News Agency