Dhaka, Dec. 11 -- Bangladesh's foreign exchange reserves have increased to $27.22 billion, according to the latest update from Bangladesh Bank.

Confirming the development on Wednesday, Bangladesh Bank spokesperson and Executive Director Arief Hossain Khan said the upward trend in reserves continues as part of the central bank's ongoing efforts to stabilise the foreign currency market.

Just a few days earlier, on 1 December, reserves were recorded at $26.51 billion. This means the reserves have grown by more than $700 million within the span of a week.Central bank's dollar purchases boost reservesThe rise comes largely from Bangladesh Bank's active intervention in the market. In the current fiscal year alone, the central bank has purchas...