Bangladesh's foreign exchange reserves have surpassed $20 billion, bolstered by a surge in remittances from overseas workers.

Bangladesh Bank’s Executive Director and Spokesperson, Husne Ara Shikha confirmed the matter.

As of December 22, she said that the total reserves stand at $24.99 billion (or 2,499 million USD) according to the central bank's latest figures. 

However, under the International Monetary Fund's (IMF) BPM-6 accounting methodology, the official reserve figure is recorded at $20 billion.

Reserves had previously crossed the $20 billion mark on November 6, but a subsequent decline saw them dip below $19 billion in early December. 

The recent recovery is largely attributed to an uptick in remittance inflows, which have provided a critical boost to the country’s financial position.

Between December 1 and December 21, Bangladesh received $2.07 billion in remittances, a sharp increase compared to $1.575 billion and $1.572 billion recorded in October and November, respectively. 

This growth highlights stronger financial contributions from Bangladesh’s diaspora, which have become a key driver in stabilizing and replenishing the nation’s reserves.

The rising flow of remittances underscores the resilience and commitment of overseas workers to support their families and the national economy. 

BDST: 1826 HRS, DEC 23, 2024
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