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Bangladesh forex reserves hit record, top $32 bln

Bangladesh forex reserves hit record, top $32 bln

DHAKA: Bangladesh’s foreign exchange reserves hit a record $32.09 billion at the end of December, the central bank said on Tuesday, up $720 million from the previous month.

The reserves were sufficient to cover about nine months’ worth of imports, and are $4.6 billion higher than a year ago. Steady garment exports and remittances from Bangladeshis working overseas, the key drivers of the country’s more than $200 billion economy, have helped build reserves in recent years.