Bangladesh foreign exchange reserves rise to $33.11b

Bangladesh’s foreign exchange reserves rose to $33.11 billion at the end of April, $709 million higher than one month earlier.

The central bank on Sunday also said the reserves were up nearly 2 per cent from one year earlier, reports Reuters.

They are sufficient to cover about 10 months’ worth of imports for the country of 160 million people, according to the central bank.

Steady garment exports and remittances from Bangladeshis working overseas - the key drivers of the country’s economy - have helped foreign exchange reserves grow steadily in recent years.