Reserves have slipped into the 18-billion area. A payment of 1.5 billion USD was made for import liabilities via the Asian Clearing Union (ACU). After paying its September and October bills last Thursday, the country’s foreign currency reserves were adjusted on Monday. As a result, net foreign reserves have dropped to 18.45 billion USD According to central bank sources, gross reserves have also declined, falling from approximately 26 billion USD to 24.2 billion USD.
Reserves have slipped. According to sources, net reserves were 20.8 billion USD as of last Thursday. After paying 1.5 billion USD for ACU obligations, the value dropped to 18.45 billion USD on Monday.
On Thursday, gross reserves were 25.73 billion USD, but by Monday, they had dropped to 24.2 billion.
The central bank is bullish since the volume of remittances sent by expats is increasing. Export revenues, as well as foreign grants and loan flows, are rising, resulting in an increase in foreign currency inflows. As a result, reserves are likely to exceed $20 billion USD again by the end of the month.
There will be no additional major debt repayments before January, so reserves are projected to grow further. However, in the first week of January, liabilities for November and December must be satisfied through ACU. In the meantime, routine payments for short- and medium-term debt, as well as import commitments, will continue as usual.
Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka use ACU to import and export products on a two-month credit basis. Every two months, the central banks of these countries calculate and settle their liabilities. Bangladesh imports more than it sends to ACU countries, therefore repayments are required on a regular basis.
Reserves have slipped
