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Bangladesh's forex reserve reaches 31.90 bln USD by October

Xinhua, November 6, 2016 Adjust font size:

Bangladesh's foreign exchange reserve reached 31.90 billion U.S. dollars at the end of October, said a central bank official on Sunday.

"The country's foreign exchange reserves stood at 31,895 million U.S. dollars in October after reaching 31,390 million U.S. dollars in September." the official from the the Bangladesh Bank (BB) Forex Reserve and Treasury Management Department told Xinhua.

According to the official who declined to be named, Bangladesh's foreign exchange reserve hit an all-time high of 31 billion U.S. dollars in August ahead of Eid al-Adha, also known as the festival of sacrifice.

Before another Muslim religious festival Eid al-Fitr in June, which marks the end of the Islamic holy fasting month of Ramadan, Bangladesh's foreign exchange reserves crossed 30 billion U.S. dollars.

Bangladesh, with a population of about 153 million, needs a reserve of about 10 billion U.S. dollars to meet its import bills for three months in light of an internationally accepted standard. Endit