Record remittance raises reserve to US$ 25 bn

A record influx of remittances this month has allowed foreign currency reserves to surpass the US$25 billion barrier before the end of March.

The Bangladesh Bank (BB) reported Thursday night that the nation’s gross reserves had increased to $25.44 billion.

The surge came after a significant increase in remittance inflows, which reached $2.94 billion in the first 26 days of March, the highest for any month in the country’s history.

However, as per the International Monetary Fund (IMF) methodology under the Balance of Payments and International Investment Position Manual (BPM6), Bangladesh’s net reserves currently stand at $20.29 billion.