March 5, 2018 / 9:47 AM / 9 months ago

Bangladesh forex reserves rise to $33.37 bln by end-February

DHAKA, March 5 (Reuters) - Bangladesh’s foreign exchange reserves rose to $33.37 billion at the end of February, $680 million more than the previous month, the central bank said on Monday.

The reserves were up nearly 2.5 percent from a year earlier, and are sufficient to cover about 10 months’ worth of imports for the country of 160 million people.

Steady garment exports and remittances from Bangladeshis working overseas - the key drivers of the country’s more-than $250 billion economy - have helped foreign exchange reserves grow steadily in recent years.

Bangladesh’s economic growth hit a record 7.28 percent in the 2016-17 financial year, up from 7.11 percent a year ago. (Reporting by Ruma Paul; Editing by Himani Sarkar)

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