Bangladesh's foreign exchange reserves have shown a significant increase, rising to $27.22 billion as of today, December 10, according to Bangladesh Bank (BB) Executive Director Arief Hossain Khan.
This marks an increase from the $26.51 billion recorded just nine days prior, on December 1. The primary driver behind this reserve accumulation is the central bank's strategy of purchasing US dollars from commercial banks via auctions. So far in the current fiscal year, BB has bought over $2.5 billion.
The central bank official stated that an uptick in remittance inflows has improved the dollar supply within the banking system, and the dollar purchases are being executed to prevent the exchange rate from falling.
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