Bangladesh FX reserves hit new record in January

DHAKA: Bangladesh's foreign exchange reserves rose to a record high of $13.1 billion in January from $12.75 billion in December, the central bank said on Sunday, thanks to an improving trade balance and strong remittances.

The south Asian country's exports in the six months to December increased 7 percent over the same period the previous year. Imports dropped 4.3 percent in the July-November period.

Remittances from Bangladeshis working overseas climbed 22 percent to $7.4 billion in the first half of the current fiscal year, which runs from July to June.