Forex reserves still in standard level: Fazle Kabir

Bangladesh Bank’s outgoing governor Fazle Kabir on Sunday said that the country’s foreign exchange reserves are still at a standard level.

“The reserves stood at $41.7 billion, which is good enough to settle import bills for more than five and a half months. Import payments of the country stood at on average $7.5 billion in the last 10-11 months. It is the standard level for any country to keep reserves to settle import bills for at least three months. So, we are still in a comfort zone,” he said.

The central bank governor said this while speaking at a cyber security summit organised by the Association of Bankers, Bangladesh (ABB) at a hotel in Dhaka.

Fazle Kabir said the country has been facing foreign exchange pressure in the last couple of months due to the soaring import payments stemming from the global supply chain disruption.