• Financial

Bangladesh's reserves decreased by বিল 39 billion

  • Financial
  • 13 July, 2022 20:47:04

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News Desk: Foreign exchange reserves in Bangladesh have come down below ৪ 40 billion. The Asian Clearing Union (ACU) has reduced its reserves after paying ৬ 1.96 billion for imports. On Tuesday (July 12), the reserves stood at 3,096 crore (39.6 billion) dollars. It is possible to meet the import expenditure of 5 months with this foreign currency stored as ৮ 6 billion import expenditure per month. The concerned department of the central bank has confirmed this information. Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka are members of ACUR. The central banks of these countries have to pay money every two months. Reserves have been under pressure for months due to rising import costs and declining domestic remittances. The central bank is selling dollars from the reserves almost every day to control the ongoing situation. Bangladesh Bank is providing this support in LC settlements mainly for food products, fuel and government procurement. In the fiscal year 2021-22, the central bank sold ৬ 8.62 billion from the reserves. In December last year, Bangladesh's foreign exchange reserves reached a record 46.15 billion. However, in the fiscal year 2021-22, the amount of imports increased to 6 billion dollars. On the other hand, the amount of foreign exchange earned from remittances and exports stood at বিল 63 billion.

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