Bangladesh forex reserves rise but may fall again

DHAKA: Bangladesh's foreign exchange reserves rose to $9.63 billion at the end of December from the lowest since August 009 in November, although they were down from $11.17 billion a year earli2er, the central bank said on Sunday.

Reserves are likely to fall again this month because of scheduled bimonthly import payments to the Asian Clearing Union, a senior central bank official said.

Bangladesh's foreign exchange reserves came under pressure from soaring imports, mainly of oil, while exports and remittances grew more slowly amid a faltering global economy.