March 8, 2023
1 min read

Bangladesh’s forex reserves reach $32bn

For a growing economy like Bangladesh, forex reserves equivalent to six months’ import bills are considered adequate…reports Asian Lite News

Bangladesh’s foreign exchange reserves reached over $32 billion by the end of February, according to the latest central bank data.

Bangladesh Bank (BB) data showed the country’s foreign exchange reserves stood at $32,333.71 million on February 28 compared with $32,222.6 million on January 31, reports Xinhua news agency.

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 over 5 months’ import bills.

Bangladesh’s foreign exchange reserves hit an all-time high of $48 billion in August 2021.

In a bid to boost shrinking forex reserves, the central bank has taken various measures, including relaxed rules, to woo more remittances from millions of Bangladeshi people living and working abroad in recent months.

Meanwhile, Bangladesh Foreign Minister A.K. Abdul Momen said on Friday Bangladesh Prime Minister Sheikh Hasina’s “zero tolerance” policy towards terrorism continues to contribute to maintaining peace and stability in the region.

Addressing the G20 Foreign Ministers’ Meeting (G20FMM) in New Delhi, he also briefed his counterparts about Bangladesh’s remarkable progress in the socio-economic sphere under the dynamic leadership of Sheikh Hasina.

The G20 Foreign Ministers’ Meeting was held in New Delhi under India’s presidency with the theme of – “One Earth, One Family, One Future”.

Abdul Momen also met his Indian counterpart Dr. S. Jaishankar and congratulated him on the successful completion of the G20 Foreign Ministers’ Meeting.

Regarding bilateral relations, both Momen and Jaishankar expressed satisfaction at the existing relations between the two countries and discussed various issues of bilateral interest.

The visiting Bangladesh Foreign Minister also held bilateral meetings with his counterparts from Brazil, Mexico, Slovenia, and Sweden. During the meetings, they discussed issues of mutual interest to further deepening bilateral cooperation and exchanged views on the ongoing geopolitical issues and enhancing multilateral cooperation, including in the UN.

ALSO READ: Bangladesh takes tough measures on single-use plastics

Previous Story

China’s true defence spending may be much higher than reported

Next Story

India-UK free trade talks covered 11 areas in seventh round

Latest from -Top News

Taliban’s Grave Warning for Pakistan

It came less than 24 hours after Pakistan’s Defence Minister Khawaja Asif reportedly issued a stern warning to Afghan Taliban…reports Asian Lite News As relations between Afghanistan and Pakistan continue to deteriorate,

US deports 2,790 Indians in 2025

The MEA on Thursday confirmed that over 2,790 Indians were deported from the US this year after authorities verified their identity and nationality….reports Asian Lite News The Ministry of External Affairs (MEA) confirmed on

India–Cyprus talks on future plan

EAM Jaishankar expressed appreciation for Cyprus’ support for India on cross-border terrorism….reports Asian Lite News External Affairs Minister S. Jaishankar and Cyprus Foreign Minister Constantinos Kombos met in New Delhi on Thursday

Rajnath Singh off for ASEAN meet

Singh is expected to hold bilateral meetings with counterparts from the participating ADMM-Plus nations ..reports Asian Lite News Defence Minister Rajnath Singh departed for Kuala Lumpur on Thursday to attend the 12th

India, South Africa boost cultural bonds

On Wednesday, Shekhawat participated in the 4th G20 Cultural Working Group Plenary Meeting under South Africa’s G20 Presidency. ..reports Asian Lite News Union Minister of Culture and Tourism Gajendra Singh Shekhawat met
Go toTop

Don't Miss

Bangladesh’s growing internet usage carries new risk of extremism

The surge in Internet usage and online communication during the

Bangladesh diaspora to hold meet on 1971 Genocide

The 1971 Genocide by the Pakistan Army is well documented