Forex reserves dip below $20 billion
Dhaka, March 10 -- Bangladesh's gross foreign exchange (forex) reserves have dropped below $20 billion as the central bank paid $1.29 billion to the Asian Clearing Union (ACU) against import bills, sources at Bangladesh Bank (BB) said.
With clearing the ACU payment, the country's gross stock of forex declined to $19.99 billion as of March 7, 2024, as per the IMF-prescribed BPM6, from $21.15 billion recorded on the previous day.
In terms of BB arithmetic, the gross volume of forex reserves fell to $25.18 billion until Thursday, from $26.40 billion calculated on March 6, 2024.
Seeking anonymity, a BB official confirmed the payment of the import bills through the ACU mechanism, saying that the country, as a member of the trading platform,...
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