DHAKA: Bangladesh's foreign exchange reserves fell to $9.52 billion at the end of May, the lowest since January, the central bank said on Monday.

Export earnings are slipping while imports are on the rise, putting pressure on the reserves, a senior central bank official said.

Exports dipped 7.13 per cent in April from a year earlier, after slipping 7.23 per cent in March, as euro zone debt crisis pressured the country's economy.

Foreign exchange reserves rose to a record $11.32 billion in April 2011 but have since dropped because of rising imports, mainly oil, while exports and remittances have grown more slowly in the weak global economy.

Last month the reserves rose $614 million to $10.19 billion, partly boosted by a loan from the International Monetary Fund.

The fund approved a three-year $987 million loan in April, $141 million of which was disbursed immediately.