Bangladesh's reserves reach 11.25 bln USD in September

Bangladesh's foreign exchange reserves reached 11.25 billion US dollars at the end of September, showed the central bank data Sunday. The Bangladesh Bank (BB) data showed the country's foreign exchange reserves stood at 11,252.06 million U.S. dollars at the end of the last month after reaching 11,434.90 million U.S. dollars on August 31. Bangladesh's foreign exchange reserve returned to the 11 billion U.S. dollars mark at the end of the August , after a gap of one year as millions of non-resident Bangladeshis sent home more money during the first two months of the current fiscal year 2012-13 (July 2012-June 2013) for their relatives to celebrate Eid- ul-Fitr, the festival that marks the end of Muslim holy month of Ramadan -- a season of fasting and spiritual reflection. The South Asian nation of about 152.52 million people needs a reserve of above 10 billion U.S. dollars to meet its import bills for three months, an international standard to maintain foreign currency reserve.