Forex reserves surge to $34.53 billion

Bangladesh’s foreign exchange reserves climbed to $34.53 billion as of May 21, driven by steady remittance inflows and strong export earnings, according to the latest data released by the central bank on Friday.

Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan confirmed that the country’s gross foreign exchange reserves reached $34.539 billion at the end of the business day on May 21.

Under the International Monetary Fund’s BPM-6 accounting standard, the country’s net usable reserves stood at $29.879 billion during the same period.

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Central bank officials said continued growth in remittance inflows and export receipts helped boost the reserve position despite ongoing global economic pressure and dollar shortages.

Data showed that within just 24 hours, Bangladesh’s gross reserves increased by about $162.5 million, while net reserves rose by roughly $160 million. Economists say the improving reserve trend will help stabilize import payments and strengthen the country’s international financial standing.