DHAKA, Feb. 20 (Xinhua) -- Bangladesh's foreign exchange reserve reached 31.72 billion U.S. dollars at the end of January, said a central bank official on Monday.
The Bangladesh Bank (BB) Forex Reserve and Treasury Management Department official who did not like to be named told Xinhua that "the country's foreign exchange reserves stood at 31,724.317 million U.S. dollars in January after reaching 32,092.19 million U.S. dollars on Dec. 31, last year."
Bangladesh's foreign exchange reserves crossed the 32 billion U.S. dollars mark first time in December last year on a steady inflow of remittances.
Earlier in August, 2015 the country's foreign reserve reached the 31 billion U.S. dollars.
Officials said Bangladesh is in a position to pay over 10 months' import bills with the existing reserves, which are also enough to help the central bank's efforts in keeping the foreign exchange market stable.
Bangladesh's cabinet earlier this month approved a proposal to float a sovereign wealth fund with its foreign currency reserves to pave the way for future mega infrastructure investment.
After the cabinet meeting with Prime Minister Sheikh Hasina in the chair on Feb. 6, Spokesman Mohammad Shafiul Alam told reporters that the cabinet gave its initial approval for the Bangladesh Sovereign Wealth Fund with an authorized capital of 10 billion U.S. dollars.
Bangladeshi Finance Minister AMA Muhith had earlier announced the formation of the fund with a part of hefty foreign currency reserve lying idle.
