DHAKA: The foreign exchange reserves of Bangladesh hit a record high of $17.35 billion in October on the back of rising exports and slower imports.

A competent source from the Bangladesh Bank made the disclosure on Sunday.

Sources said the reserves at the end of last month were up from $16.15 billion the previous month, when they slipped for the first time since June, and were higher than $12.34 billion in the same month the previous year.

The reserves are enough to cover more than five months of imports.

Rising exports, the slow pace of imports and steady remittances from Bangladeshis working overseas have helped build reserves, a senior central bank official said.

BDST: 1505 HRS, NOV 03, 2013
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