In the fiscal year 2022-2023, the Bangladesh Bank recorded a notable surge in income from the revaluation of its gold assets, reaching Tk 1,484.34 crore. This figure represents a substantial 38.74% increase compared to the year-on-year income of Tk 909 crore in the previous fiscal year.
The central bank’s annual report indicates a total holding of 4,51,168.61 troy ounces of gold, with a portion stored at the Bank of England and the rest in its own local vault. The report highlights the global practice of central banks utilizing physical gold as part of foreign reserves. The Bangladesh Bank engages in gold lending transactions with top-tier foreign financial institutions, securing interest in return, contributing to its gross foreign exchange reserves. The bank’s proactive investment management led to a significant profit increase, reaching Tk 47,268 crore in FY23.