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DHAKA, Nov 11 (Reuters) - Bangladesh's foreign exchange reserves reached a record $10 billion, the central bank said on Wednesday, following a steady rise since February on higher inflows of remittances. The reserves jumped to an all-time high after the country received nearly $650 million in funding from the Asian Development Bank, a senior central bank official said. A sharp decline in imports amid the global economic slump also helped the reserves to rise, the official said. Imports for July-September decreased by 19 percent from a year earlier to $5.12 billion, while exports plunged 11 percent to $3.87 billion, shrinking the trade deficit to $1.25 billion from $1.94 billion in the same period of last year. Officials said strong remittances from more than 6 million Bangladeshis working abroad helped offset the impact of the trade shortfall and kept the overall balance of payments in surplus. Bangladesh received $3.6 billion in remittances in July-October, 21 percent higher than the previous year. ($1=69.15 taka) (Reporting by Ruma Paul; Editing by Alex Richardson) ((ruma.paul@thomsonreuters.com; +880-2-8330123; Reuters Messaging: ruma.paul.reuters.com@reuters.net;)) Keywords: BANGLADESH ECONOMY/RESERVES (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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