Bangladesh’s forex reserves cross $26 billion mark .

[drunken-monke]

Extremely good for the region.. The more Bangladesh grows, the more trade, prosperity and stability in the region.. Good job Bangladeshis..

You tried you best to destroy it and this would happen if Hasina remains in power for long time. Bangladesh has been doing good since past 15 years. Hope the result gets more visible in their Armed Forces also

Why not?? A friendly, strong and stable ally named Bangladesh is in India's Interest..

 

[bongbang]

RAW is watchdog of BD. Just keep away Pakistan out.

 

[Fireurimagination]

Bangladesh has bigger foreign exchange reserve than Pakistan

 

[PoKeMon]

That's tells how hollow jamati's accusations are and how well Hasina is performing.

 

[Homo Sapiens]

Bangladesh has bigger foreign exchange reserve than Pakistan

Why are you falling from the sky? Bangladesh also has bigger export than Pakistan.so what?

 

[Archie]

Its simple, Barring China, BD is the best place to manufacture RMG. Both Indian and Pakistani Producers have shifted their plants to BD due to low labour cost, state level subsidies and favourable trade agreements with Europe due to BDs least developed country status.

 

[bongbang]

Both Indian and Pakistani Producers have shifted their plants to BD due to low labour cost,

Right now Indian labour gets minimum $71 and Bangladeshi $69. So Bangladesh now facing extreme competition with Vietnam and India in RMG sector.

 

[TopCat]

Right now Indian labour gets minimum $71 and Bangladeshi $69. So Bangladesh now facing extreme competition with Vietnam and India in RMG sector.

After Indian rupee depreciation and taka's appreciation the situation even worse.
Vietnam is doing good only in USA due to trade pact and preferential treatment.

 

[Peaceful Civilian]

Congrats for such growing economy with good PACE. Discouraging, killing extremist elements is finally paying the fruit.

 

[Echo_419]

http://bdnews24.com/economy/2015/08/17/bangladeshs-forex-reserves-cross-26-billion-mark

Home > Economy > Bangladesh’s forex reserves cross $26 billion mark
Bangladesh’s forex reserves cross $26 billion mark
Abdur Rahim Harmachi, Chief Economics Correspondent, bdnews24.com

Published: 2015-08-17 21:31:14.0 BdST Updated: 2015-08-17 21:50:50.0 BdST

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Bangladesh’s foreign exchange reserves have crossed the $26 billion mark for the first time.


On Monday, the reserves reached $26.03 billion, enough to foot the import bill of at least seven months, said Kazi Sayedur Rahman, general manager of Bangladesh Bank’s Forex Reserve and Treasury Management Department.

He attributed the rise to the increased inflow of remittance from the expatriates and earnings from exports.

International standards require a country to have reserves to meet import costs of at least three months.

Bangladesh clears Asian Clearing Union (ACU) bills every two months.

Lesser than normal spending on import of fuel oil and commodities also played a role in the reserves increasing, Rahman told bdnews24.com.

According to the central bank data, forex reserves were a little over $21 billion on June 31 last year.

For the first time in the country’s history, the reserves had crossed the $23 billion mark on Feb 26 this year.

But, the figure dropped to $22 billion after the central bank cleared import bills for January-February period amounting $1.01 billion to ACU in the first week of March.

The reserves again crossed $23 billion on Mar 30 and exceeded $24 billion on Apr 29.

The reserves soared over the $25 billion mark on June 25.

The payment of $1 billion in ACU bills in the first week of July saw it drop to $24.4 billion on July 8. But it recovered within a week to rise to $25 billion again on July 14.

Kazi Sayedur Rahman on Monday said forex reserves would remain at $26 billion until the first week of September before the import bills for July-August period would be paid to ACU.

Credit should be given to has in a

RAW is watchdog of BD. Just keep away Pakistan out.

Don't worry we got your back

 

[Homo Sapiens]

Credit should be given to has in a

Nooooooooooo!!!!!!!Credit should be given to RRRRRRRRRRRAAAAAAAAAAAAAAWWWWWWWWWWWW!!!!!

 

[AugenBlick]

Congrats for such growing economy with good PACE. Discouraging, killing extremist elements is finally paying the fruit.

Gotta agree...
BDians killed jamatiis like parasites ... ... now peace & stability all around and as a result $$$$$$$$$$.

 

[Echo_419]

Gotta agree...
BDians killed jamatiis like parasites ... ... now peace & stability all around and as a result $$$$$$$$$$.

We should try to get TOT for that

 

[Bilal9]

Its simple, Barring China, BD is the best place to manufacture RMG. Both Indian and Pakistani Producers have shifted their plants to BD due to low labour cost, state level subsidies and favourable trade agreements with Europe due to BDs least developed country status.

Bangladesh only gets some preferential treatment from the EU. It has no GSP facility in the US. However exports are not slowing down at all in spite of this.

 

[damiendehorn]

Bangladesh only gets some preferential treatment from the EU. It has no GSP facility in the US. However exports are not slowing down at all in spite of this.

True, exports are predicted to rise rapidly in the coming years with improvements in communication (roads, ports, IT) and power. RMGs ($24+bn) form the bulk of our exports ($34+bn) now and RMG exports is still expected grow double digit rates to around $40bn by the end of 2020.

The key areas of growth are expected to be:

1. Leather footwear and sports wear
2. White goods and light engineering
3. ICT and BPO
4. Pharama
5. Ship building

All in I would be really shocked if our export earnings havent doubled to at least $70+bn in the next 5-6 years.