DHAKA: Bangladesh’s foreign exchange reserves edged down to $28.8 billion at the end of May from a record high of $29.11 billion in the previous month, but were up 21 percent from a year earlier, the central bank said on Wednesday.
The drop was due to a rise in imports, a senior central bank official said. The reserves are enough to cover eight months of imports. Steady readymade garment exports and remittances from Bangladesh nationals working overseas, two mainstays for the country of 160 million people, have helped build reserves in recent years.
