Bangladesh’s forex reserves highest since August 2023

Bangladesh's foreign exchange reserves hit $22.24 billion today, the highest since August 2023, boosting the country's capacity to pay import bills for over four months, as multilateral lenders released budget support funds for the government.

On Monday, the government signed a $400 million loan agreement with the Asian Infrastructure Investment Bank as part of budget support.

Earlier, the World Bank announced that it would provide $500 million, while the Asian Development Bank approved $900 million in loans to help Bangladesh reform its banking sector and strengthen its resilience to the impacts of climate change.

Data released by Bangladesh Bank showed that foreign exchange reserves, calculated using the International Monetary Fund's method, rose to $22.24 billion this evening, up from $21.38 billion on June 19.

Gross reserves also increased, reaching $27.30 billion this evening from $26.55 billion at the end of last week.

On April 30 this year, Bangladesh's foreign exchange reserves were $22.04 billion.