Foreign exchange reserves fell below 20 billion dollars again

Economy Desk: Foreign exchange reserves have fallen below 20 billion dollars again. The latest reserve amount stands at 19.94 billion dollars (BPM6) or one thousand 994 crores 26 lakh 70 thousand US dollars. At the same time, the amount of reserves including various funds formed from total reserves or foreign currency reserves stood at 25 million 9 lakh 11 thousand 30 thousand US dollars. This information has been highlighted in the weekly selected economic indicators of Bangladesh Bank on Thursday (February 1). Reserves fell to 19 billion in early December. Then the reserves exceeded 20 billion dollars when loans from the International Monetary Fund-IMF, Asian Development Bank-ADB and South Korea were added. After that, the Asian Clearing Union-Accur bill and other import liabilities were paid and the reserves continued to decrease. The latest reserves fell below $20 billion.

In August 2021, total foreign exchange reserves crossed the highest mark in the country's history by 48 billion. Then the central bank sold about 29 billion dollars from the reserves. As a result of the sale, the reserves continue to decrease. Due to the dollar crisis, additional pressure is created in the reserves. By 2021, imports were available at Tk 85-86 per dollar. Now one has to pay up to 122-123 rupees for every dollar. However, many people are unable to open LCs without getting the desired dollars.