Forex reserves cross $23-bn mark

Economic Correspondent: Bangladesh`s foreign exchange reserves reached a record high as the reserves surpassed $23 billion mark for the first time in the country’s history on Thursday.

A stable inflow of remittance and export incomes led to the record reserve, Bangladesh Bank’s Forex Reserve and Treasury Management Chief Kazi Saidur Rahman said.

The higher reserves, which stem from a widening current-account surplus, can to cover more than seven months of imports.

Earlier, forex reserves crossed $22 billion on Aug 7 last year. But it dropped soon after only to touch the mark again on Jan 28 this year.

risingbd/DHAKA/Feb 26, 2015/Niaz/Augustin Sujan