With the deepening global downturn affecting major export markets, Bangladesh’s balance of payments has come under some pressure, aggravated by some slowing down of remittances although they continue to hold up well. Gross international reserves stood at US $ 5.9 billion at the end of February 2009, close to three months of imports.
As a result of the BoP surplus, the country’s gross international reserves (GIR) continued to reach peak levels, hitting a new record high of $ billion in June this year. At this level, our GIR can cover 6 months of imports of goods and payments of services, way above the global standard.