Country’s reserves fall to $29.77bn

BTJ Desk Report
Country’s reserves fall to $29.77bn

Foreign exchange reserves of the country have decreased to $29.77 billion as a result of Bangladesh Bank clearing $1.18 billion worth of import bills through Asian Clearing Union (ACU).

According to figures from the central bank, the reserves were $42.20 billion in May of last year, a decline of 29.45% over the previous twelve months.

The money was changed from the nation’s foreign exchange reserves on Sunday after Bangladesh Bank paid the ACU last week.

After each ACU payment in recent months, according to a central bank official, the reserves have experienced problems.

Bangladesh is a member of the ACU, which is a system for settling payments for intra-regional transactions.

India, Bhutan, Iran, the Maldives, Myanmar, Nepal, Pakistan and Sri Lanka are other members of the Tehran-based ACU.

Member countries of the ACU clear their payments once every two months.


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