Bangladesh’s foreign exchange reserves have risen above $37 billion for the first time in 45 months. As of Monday, the gross reserve stood at $37.05 billion, up from $36 billion last Wednesday. The last time reserves were above this level was in mid-September 2022, before declining steadily to $25.92 billion by August 2024, when the Awami League government fell.

According to the IMF’s BPM6 calculation method, reserves reached $32.48 billion, compared to $31.55 billion last Wednesday. The reserve crossed $31 billion after the Asian Development Bank disbursed a $1 billion loan on June 14. Bangladesh Bank began publishing reserves under the BPM6 system in June 2023, when the figure was $24.75 billion. The country’s highest reserve level was $48 billion in August 2021, before falling due to increased capital flight and a sharp depreciation of the taka from 84 to 120 per dollar.

Since August 2024, remittance inflows through banking channels have remained strong, totaling $35.34 billion by June 28 of the current fiscal year, up 17.62 percent from the same period last year, helping stabilize the foreign exchange market.