Forex reserves rose to around $34.06 billion just days before the national election, thanks to higher remittance inflow giving the central bank a visible cushion in a politically sensitive moment and signaling tighter grip on the dollar market.
Inflow of remittances witnessed a year-on-year growth of 53.9 percent reaching $1,032 million in the first eight days of February, according to the latest data of Bangladesh Bank (BB) issued today.
Last year, during the same period, the country's remittance inflow was $671 million. Expatriates sent remittances of $20,465 million during the period, which was $16,633 million during the same period of the previous fiscal year.
The foreign exchange market remained stable over the last few weeks thanks to dollar's fall against the Bangladesh taka. Meanwhile, Bangladesh Bank bought $966 million in February from commercial banks at a cut-off rate of Tk 122.30 per dollar, according to the central bank.
As of February 10, 2026, the US Dollar is trading at approximately 122.29 BDT. The currency has remained relatively stable over the past week, showing a slight decrease of 0.082% compared to seven days ago.
Bankers said the dollar demand from importers remains controlled due to cautious opening of LCs, while inward remittance through formal channels continues to support liquidity. Export earnings, though facing global headwinds, are still adding to the foreign currency supply chain. This combination allowed the central bank to absorb dollars without creating stress in the interbank market.
However, analysts note that the quality of reserves and net usable balance remain key. Election-time spending, deferred import payments, and energy bills may test the reserve buffer in coming months. Much will depend on post-election political stability, remittance momentum, and global commodity prices.
For now, the message from the central bank is clear. Reserves are rebuilding, the dollar market is under watch, and authorities are entering the election period with a stronger external shield than before.
