Bangladesh's foreign exchange reserves have reached a new height, crossing the $30-billion mark. Standing at $30.02 billion yesterday, the reserves are the highest in the country's history and enough to meet import bills for at least eight months, according to central bank data.

SK Sur Chowdhury, deputy governor of Bangladesh Bank, said remittance flow and a steady growth of exports helped the reserves go up.

“Sound foreign currency management and low commodity prices in the global market also contributed to the rise,” he told The Daily Star.

Bangladesh received $1.21 billion in remittance in May, while it stood at $1.13 billion in the first 24 days of June.

Income from exports stood at $3.03 billion in May, up 6.69 percent year-on-year, according to data from Export Promotion Bureau. 

The reserves have been hitting new highs every month or two due to a lack of demand for investment, according to experts.

When the present government took power in 2009, the reserves were hovering at around $6 billion.

The growing foreign currency reserve has helped the central bank maintain a stable exchange rate over the last couple of years and provided a more favourable economic environment.