Forex reserves increase to $24.52 billion before Eid

Foreign exchange reserves with Bangladesh Bank increased before Eid-ul-Azha as expatriate Bangladeshis sent more money home than at other times to facilitate their families celebrating the festival.

According to the central bank data, the reserves rose to 24.52 billion US dollars on June 12 from 24.21 billion dollars at the beginning of this month, representing a rise of 310 million in 12 days.

However, according to the International Monetary Fund’s Balance of Payments and International Investment Position Manual (BPM6), the reserves increased by 487.3 million dollars.

According to BPM6, the reserves were 18.72 billion dollars at the beginning of this month and it increased to 19.2 billion dollars on June 12.