79204
Bangla Forex Reserves Rise to $33 Billion
Bangla Forex Reserves Rise to $33 Billion

Bangla Forex Reserves Rise to $33 Billion

Bangla Forex Reserves Rise to $33 Billion

Bangladesh’s foreign exchange reserves rose to $33.23 billion by the end of December, $630 million more than the previous month, the central bank said, Reuters reported. The reserves were up nearly 3.4% from a year earlier, and are sufficient to cover about 10 months’ worth of imports for the country of 160 million people. Steady garment exports and remittances from Bangladeshis working overseas—the key drivers of the country’s more-than $250 billion economy—have helped foreign exchange reserves grow steadily in recent years. Bangladesh’s economic growth hit a record 7.28% in the financial year ending June 2017, up from 7.11% the previous year. For Bangladesh 2017 has been a mixed year of achievements and challenges. Though some macro indicators reflect the positive trends, the overall strength of the economy is weakening due to a number of developments toward the second half of the year. Though average inflation has been around 5.5%, food inflation is showing an increasing rate in recent months.

You can also read ...

The treasury department in Washington
Foreign governments pulled back their purchases of longer-term...
Brazil, India Corporate Debt at Risk of Default
A 200 basis-point increase in interest rates could spark a...
Shares of petrochemical companies in Asia slumped on Tuesday, tracking the global equity downturn overnight.
The trade dispute between the world’s two largest economies...
Six people including two former HBOS bankers were jailed last year.
An internal Lloyds Banking Group report written by a former...
BoK Hints at Rate Increase
Bank of Korea Gov. Lee Ju-yeol indicated Tuesday that the bank...
China Accuses Trump of Blackmail, Vows Strong Retaliation
China vowed to retaliate after President Donald Trump...
London Metals Cut Losses
London metals edged higher and Shanghai contracts cut early...
Mario Draghi
Mario Draghi promised that the European Central Bank will take...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus