Bangladesh's foreign exchange reserves crossed $21 billion yesterday after almost 10 months thanks to an increased inflow of foreign currency generated by remittances and export earnings.
Bangladesh’s foreign exchange reserves fell to $20 billion yesterday from $21.67 billion after the country paid $1.67 billion in regional import bills through the Asian Clearing Union (ACU).
Reserves were $19.87 billion a week ago
After a prolonged period of crisis, the foreign exchange market in Bangladesh, especially the interbank forex market, is showing signs of recovery, driven by a rebound in remittance receipts and key policy interventions by the central bank.
Bangladesh’s foreign exchange reserve has dropped to $19.44 billion after the payment of $1.37 billion in import bills of July and August.
$1.42 billion of import bills for May and June were paid through Asian Clearing Union (ACU)
Bangladesh’s foreign currency reserves are set to receive as high as $2 billion this month, which may send the total to nearly $21 billion, handing a much-needed relief to the US dollar supply.
Bangladesh's foreign currency reserves have reached $19.2 billion, an increase by $538 million from a week ago
$1.63 billion of ACU payment was settled today
Under the currency swap agreements introduced last month, the banking regulator took $1.17 billion from commercial banks and injected around Tk 20,000 crore in the form of local currencies into the banking system, according to several central bankers.
It hit $19.45 billion on March 27, down from $19.98 billion on March 20
Bangladesh has failed to meet IMF’s target on keeping $17.78 billion as the minimum net international reserve as of December 31 last year
The International Monetary Fund has set a new minimum foreign exchange reserves target for Bangladesh as the reserves have dropped at a faster-than-expected pace.
IMF will give $689 million, ADB $400 million and other sources $220 million
It decreased by $60 million in a week
The reserves hit $21.15 billion on Sep 26
It hit $29.97 billion on May 24
