DHAKA Dec 1 Bangladesh's foreign exchange
reserves edged down to $31.37 billion at the end of November
from a record high of $31.90 billion the previous month, but
were up 14 percent from a year earlier, the central bank said on
The monthly drop was fuelled by a rise in imports, a senior
central bank official said, adding that the reserves were
sufficient to cover about nine months' worth of imports.
Last month, Bangladesh's central bank retrieved just under a
fifth of the $81 million looted in February from its account at
the New York Federal Reserve, which then went missing in Manila,
after one of the biggest bank frauds ever.
Steady garment exports and remittances from Bangladesh
nationals working overseas, the key drivers of a more than $200
billion economy, have helped build reserves in recent years.
(Reporting by Ruma Paul; Editing by Clarence Fernandez)