India, Feb. 10 -- Bangladesh's foreign exchange reserves have crossed the $29 billion mark for the first time since the central bank began calculating reserves using the International Monetary Fund's (IMF) methodology.

As of Monday, reserves stood at $29.47 billion, up from $29.23 billion on February 5, according to Bangladesh Bank (BB).

This is the highest level since July 12, 2023, when the BB started following the IMF's Balance of Payments and International Investment Position Manual (BPM6). The BPM6 framework reflects readily available reserves that can cover import bills and other international obligations. The gradual replenishment of reserves over the past year has been driven by rising remittances and moderated import demand.

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