Business Standard

Bangladesh sees rise in foreign exchange reserve

Image

IANS Dhaka

Bangladesh's foreign exchange reserve hit an all-time high of $26.18 billion at the end of August, said a central bank official on Wednesday.

A Bangladesh Bank official, who preferred to be unnamed, said foreign currency reserves reached a new milestone last month, reflecting the country's strength in the economy, Xinhua reported.

According to the official, the country's foreign exchange reserves stood at $26,175.34 million on August 31 after reaching at $25,464.28 million in July.

Bangladesh's foreign exchange reserves on August 17 touched the $26 billion mark for the first time.

Bangladesh, with a population of around 153 million, needs a reserve of some $10 billion to meet its import bills for three months in light of an internationally accepted standard.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 02 2015 | 7:36 PM IST

Explore News