Bangladesh Foreign Reserves Climb to $34.43bn

Bangladesh’s foreign exchange reserves have risen to 34.43 billion US dollars, according to the latest data published by Bangladesh Bank, signalling a gradual strengthening of the country’s external sector position amid record remittance inflows and improving macroeconomic stability.

The figures were confirmed on Thursday (2 April) by Arif Hossain Khan, Executive Director and spokesperson of the central bank. He stated that the country’s gross foreign exchange reserves currently stand at 34.43 billion US dollars. However, under the International Monetary Fund’s Balance of Payments and International Investment Position Manual (BPM-6) methodology, the reserves are calculated at 29.81 billion US dollars.

The gap between the two figures reflects standard international accounting adjustments, including short-term liabilities and other external obligations excluded under the IMF’s BPM-6 framework. Despite the methodological difference, both indicators point towards an improving reserve position compared with previous months, supported largely by strong inflows of foreign currency, particularly remittances from overseas workers.

Record-breaking remittance inflows

In a significant boost to the economy, Bangladesh recorded its highest-ever monthly remittance inflow in March. During the 31-day period, expatriate Bangladeshis sent home 3.755 billion US dollars, equivalent to approximately 375.5 crore US dollars, setting a new national record for a single month.

This unprecedented inflow has played a crucial role in bolstering the country’s external accounts, helping to stabilise foreign exchange reserves, ease pressure on import financing, and support overall balance of payments stability.

Bank-wise remittance inflow (March)

Private commercial banks accounted for the largest share of remittance inflows, receiving approximately 2.64 billion US dollars. State-owned commercial banks collectively handled more than 640 million US dollars, while Agrani Bank, one of the country’s specialised state-owned lenders, processed around 464.7 million US dollars. Foreign banks contributed a comparatively marginal amount of roughly 1.2 million US dollars.

Economic outlook and implications

Economists have described the sharp rise in remittance inflows as a positive development for Bangladesh’s external sector resilience. Remittances remain one of the country’s most important sources of foreign currency, supporting household consumption, sustaining rural economies, and providing a steady buffer for foreign exchange reserves.

The strengthening reserve position is expected to give policymakers greater flexibility in managing import obligations, stabilising the exchange rate, and meeting external debt commitments. Analysts also suggest that continued growth in remittance inflows could help reinforce macroeconomic stability in the coming months, particularly if export earnings remain steady.

While challenges remain in the global economic environment, the latest figures from Bangladesh Bank suggest a cautiously improving external position, driven primarily by record remittance performance and relatively stable foreign currency inflows.