Gross foreign currency reserves increase to $25.63b

Foreign currency reserves have crossed the US$25.6 billion mark at the end of March thanks to a record inflow of remittances this month.

The country’s gross reserves have risen to $25.63 billion, according to data released by the Bangladesh Bank (BB) on Sunday.

The surge came after a significant increase in remittance inflows, which reached $3.29 billion in March, the highest for any month in the country’s history, reports BSS.

However, as per the International Monetary Fund (IMF) methodology under the Balance of Payments and International Investment Position Manual (BPM6), Bangladesh’s net reserves currently stand at $20.46 billion.