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RETAIL BANKING | Cesar Tordesillas, India

Bangladesh's current account shows more surplus in December

Bangladesh's current account balance recorded more surplus in December due to more remittance inflow and increase in export.


It stood back in positive in November after entering the negative territory in October for the first time in about seven years.

A Bangladesh Bank official, who preferred to be unnamed, said the current account balance in December posted a surplus of 409 million U.S. dollars, making an upturn from 63 million U.S. dollars surplus in the previous month.

The official said Bangladesh's current account surplus ballooned to 865 million U.S. dollars in December, 2010.

The country recorded a deficit of US$372 million in October against the surplus of US$1.117 billion U.S. dollars in the same month of 2010-11 fiscal year.

The BB official said "both current account balance and overall balance of payments have showed positive trend as growth in export earnings and inflow of remittances bolstered."

Bangladesh's exports growth in July-December period of the current fiscal year surged about 15 percent year on year to 11.77 billion U.S. dollars, the BB data showed.

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