Foreign Currency Reserve Income Surges 108%

Economic Tag: Central Bank, Forex

Bangladesh Bank has experienced a remarkable 108% YoY increase in income from foreign currency reserves, reaching Tk 6,000 crore in the fiscal year 2022-23, as disclosed in the central bank’s annual report. This surge is attributed to foreign currency revaluations and substantial USD sales by the central bank. The bank injected approximately $14 billion into banks from its forex reserves during the fiscal year. This bolstered the net profit of the central bank, which soared by 86% from the previous fiscal year to Tk 10,748 crore. A significant portion of the income, Tk 9,000 crore, originated from local currency-based financial assets, with the remaining Tk 6,000 crore arising from foreign currency-based financial assets, reflecting a robust performance overall.

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