Shahnaz Begum of DOT
[2] According to the latest figures from the International Monetary Fund as per the World Gold Council, Bangladesh ranks fourth among South Asian countries in gold reserves. At present, Bangladesh has 14 tons of gold reserves, which is 2 percent of the total foreign exchange reserves, reports banglanews24.com.
[3] Investment in gold in the country has increased by 37 percent to 554 million in the last 10 years. To diversify its foreign exchange reserves, Bangladesh Bank purchased 10 metric tons of gold from the International Monetary Fund on September 7, 2010 for 403 million dollar.
[3] Through this purchase, the Bangladesh Bank (BB) increased its gold holding to 13.5 tonnes from 3.5 tonnes earlier to minimise foreign currency valuation losses caused by the volatility in the global foreign exchange market, reports The Financial Express.
[4] Meanwhile, central bankers say Bangladesh Bank is not really interested in buying gold from the international open market to prevent future risks.
[5] Dr. Atiur Rahman said 10 metric gold was purchased in 2010 as part of the diversified use of foreign exchange reserves. He also said the central bank should invest a certain portion of the country’s forex reserve in gold.
[6] India is one of the top gold reserves in South Asia. The country’s gold reserves amount to 677 metric tons, which is 7 percent of the total foreign exchange reserves. Pakistan is in the second position with 75 metric tons of gold reserves