Bangladesh's forex reserves reach over 39 bln USD in September
Source: Xinhua | 2020-10-05
Bangladesh's foreign exchange reserves reached over 39 billion U.S. dollars by the end of September, central bank data showed recently.
Bangladesh Bank (BB) data showed the country's foreign exchange reserves stood at 39,313.98 million U.S. dollars on Sept. 30 compared with 39,040.04 million U.S. dollars on Aug. 31.
For a growing economy like Bangladesh, forex reserves equivalent to six months' import bills are considered adequate.
With the existing reserves, BB officials said Bangladesh is in a position to pay over 10 months' import bills.
Bangladesh's foreign exchange reserves crossed the 39-billion-U.S. dollar for the first time in August this year amid a boom in inflow of remittances ahead of the Muslims' annual Eid al-Adha festival.
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