Bangladesh’s net FX reserves amount to $20b – official

Bangladesh Bank has around $20 billion, Xinhua reported on Tuesday citing the central bank’s spokesperson and executive director Husne Ara Shikha.

“According to the latest data, foreign exchange reserves amount to 24.3 billion dollars. It is close to 20 billion dollars according to the Balance of Payments and International Investment Position Manual (BPM6) calculation standard of the International Monetary Fund (IMF),” Shikha stated.

To align with international standards, Bangladesh began in 2023 calculating its net foreign exchange reserves using the IMF’s BPM6 formula, excluding short-term liabilities, in 2023.

While Bangladesh aims for foreign exchange reserves equivalent to six months’ import bills, officials said the country’s current reserves are in position to pay some four months of import bills.

Attribution: Xinhua

Subediting: Y.Yasser