Foreign Exchange Reserves Surpass 31 Billion Dollars Again

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News Desk: The country’s total foreign exchange reserves have risen to USD 31,003.10 million, or USD 31 billion, according to the central bank.

On Wednesday (17 September), Bangladesh Bank’s Executive Director and Spokesperson, Arif Hossain Khan, confirmed the development.

According to the latest data from the central bank, as of 17 September, the country’s gross reserves stood at USD 31,003.10 million. Under the International Monetary Fund’s (IMF) Balance of Payments and International Investment Position Manual (BPM6) reporting framework, reserves are now USD 26,087.46 million.

Earlier, as of 15 September, the country’s gross reserves amounted to USD 30,886.98 million, while under the IMF’s BPM6 method, reserves stood at USD 25,984.43 million.

The central bank had last reported reserves surpassing the USD 31 billion mark on 3 September, when gross reserves were recorded at USD 31,432.08 million, and USD 26,450.06 million under the IMF’s BPM6 calculation.

Subsequently, on 7 September, Bangladesh Bank announced that payments amounting to USD 1,503.50 million, or USD 1.50 billion, had been made to the Asian Clearing Union (ACU) for July and August imports. This brought gross reserves down to USD 30,307.36 million, with BPM6-based reserves at USD 25,397.53 million as of 7 September.

Since then, although reserves have fluctuated, they had not crossed the USD 31 billion threshold until today (17 September), when the central bank confirmed the development.

It should be noted that net reserves are calculated according to the IMF’s BPM6 methodology. Net or usable reserves are derived by deducting short-term external liabilities from the total reserves.