Reserves fall to $26.43 billion
Bangladesh's foreign exchange reserves fell to $26.43 billion today, down from $28 billion on November 6, according to the International Monetary Fund's calculation method.The reserves declined after $1.61 billion in import bills were settled through the Asian Clearing Union (ACU).Tehran-based organisation ACU facilitates payment settlements among nine member countries: India, Bangladesh, Bhutan, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka.Under the ACU mechanism, Bangladesh clea...
Bangladesh's foreign exchange reserves fell to $26.43 billion today, down from $28 billion on November 6, according to the International Monetary Fund's calculation method.
The reserves declined after $1.61 billion in import bills were settled through the Asian Clearing Union (ACU).
Tehran-based organisation ACU facilitates payment settlements among nine member countries: India, Bangladesh, Bhutan, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka.
Under the ACU mechanism, Bangladesh clears its import bills every two months, leading to a temporary decline in reserves after each payment.
Foreign exchange reserves, which had dropped below $20 billion in the first half of last year, have been rising in recent months, buoyed by increased inflows of remittances and export earnings.