DHAKA, March 6 (Xinhua) -- The central bank of Bangladesh Wednesday said its foreign exchange reserves have topped the 14 billion U.S. dollars mark for the first time propelled by inflow of remittance.
A Bangladesh Bank (BB) official told Xinhua that "in terms of U. S. dollars, the foreign exchange reserves that the country held as of Tuesday were 14,105.44 million, an all-time high."
Bangladesh's foreign exchange reserves topped the 13 billion U. S. dollars mark on Jan. 7, said the official who preferred to be unnamed.
He said the South Asian country's foreign currency reserves have stayed above the 12 billion U.S. dollars level since October last year.
Apart from remittances, which surged to nearly 10 billion U.S. dollars during the first half of the current fiscal year (July 2012-June 2013), a growth of over 17 percent year on year, the central bank official said slump in import bills also contributed to the increase in foreign exchange reserves.
He said Bangladesh's overall import orders have been declining since the end of the last year due to political uncertainty over the next parliamentary elections slated for 2014 and the war crimes trial.