The country’s foreign exchange reserves stood at US$ 10.949 billion on December 22 this year compared with $10.32 billion a year ago, showing a 6.09 percent rise.

But the reserves were lower by $211 million or 1.89 percent compared with $11.16 billion recorded in October, 2010.

The gross foreign exchange reserves in October this year, without ACU (Asian Clearing Union) liability is equivalent to import payments of 5.22 months. The imports were worth $ 2.14 billion per month based on the previous 12 months average.

The gross foreign exchange balances held abroad by commercial banks stood at $ 583.21 million by end October, 2010 against $ 508.90 million in September, 2010. The figure was $460.06 million in October, 2009.

Meanwhile, the remittances receipts during July-November of fiscal 2010-11 totaled $4.529 billion, lower from $ 4.659 billion during the same period of last fiscal, showing a decline by $130 million or 2.79 percent.

The inflow of remittances during July-October, 2010 fell by $32.63 million or 0.90 percent to $3.576 billion against $3.609 billion during July-October, 2009.

The remittances sent by the non-resident Bangladeshis during November this year was $ 945.99 million against $1.051 billion in the same month last year.

The remittances during fiscal 2009-10) was recorded at $10.973 billion, the central bank’s statistics showed.

The exports receipts of the country during July-October, 2010 increased by $1.828 billion or 37.35 percent to $ 6.721 billion compared with $ 4.894 billion during July-October, last fiscal.

The import payments of the country during July-October period of fiscal 2010-11 amounted to $9.547 billion against $7.159 billion during the same period of last fiscal year, indicating a rise by $ 2.388 billion or 33.36 percent.

In October this year, the country had to make import payments worth $ 2.526 billion against $2.032 billion in the same month of last fiscal, up by $494 million or 24.31 percent.

During July-September, 2010, the import payments of the country increased by US$1.897 billion or 37.02 percent to $7.022 billion compared with $ 5.125 billion during the corresponding period of last fiscal.

Meanwhile, the settlement of import LCs (Letter of Credits) during July-September, 2010 increased by $2.068 billion or 42.66 percent to $6.915 billion against $4.847 billion during the same period of last fiscal year.

Fresh opening of import LCs during July-September, 2010 increased by $ 2.527 billion or 39.25 percent to $ 8.965 billion against $6.438 billion during July - September, 2009.

Source: Daily Sun