Upskilling workers, easier migration process can further increase it.

The falling foreign exchange reserves and the ever-rising defaulted loans are very concerning for the economy, and the government should respond fast to avoid a looming crisis, eminent economist Prof Rehman Sobhan said yesterday. 

Bangladesh’s foreign currency reserves would be less than $18 billion if the central bank's liabilities are considered, according to Zahid Hussain, a former lead economist of the World Bank's Dhaka office..The central bank is regularly publishing its gross foreign reserves in line with the

Bangladesh’s net foreign currency reserves would be less than $18 billion if the central bank’s liabilities are considered, said Zahid Hussain, a former lead economist of the World Bank's Dhaka office, today.

The strain on dollar stockpile intensified last month after remittance inflows crashed to a 41-month low and export receipts missed target.

Gross foreign exchange balances held by commercial banks in Bangladesh rose to a 19-month high of $5.53 billion in June, owing to lower imports and higher export and remittance earnings, central bank data showed.   

Prime Minister Sheikh Hasina today (July 27, 2022) said Bangladesh would be able to meet six to nine months of import expenditures with the existing foreign currency reserves.

The US dollar has now surpassed the Tk 100 mark, and Bangladesh Bank is making contradictory moves to deal with the situation.