Bangladesh reserves reach $1.7b

Bangladesh reserves reach $1.7b

DHAKA: Bangladesh's foreign exchange reserves have recovered
to US$1.7 billion after sinking to $1.05 billion in January, a
central bank source said Monday.

The Bangladesh Bank source said the rise could be attributed
mainly to action against the illegal transfer of foreign exchange
by expatriate Bangladeshis and the devaluation of the taka
currency.

"The reserves are expected to rise further in coming months,"
he said.

The main source of Bangladesh's foreign exchange earnings are
exports, remittances, development funds and loans and grants from
donors. -- AFP