FE Today Logo

Reserves fall to $20.46b after ACU payment

FE REPORT | July 11, 2024 00:00:00

The country's foreign exchange reserves fell to US$20.46 billion on Wednesday after a payment of US$1.42 billion to the Asian Clearing Union (ACU) for the May-June period.

The information was posted in a WhatsApp group for journalists on Wednesday by Bangladesh Bank's acting spokesperson Saiful Islam.

Earlier on July 2, gross reserves increased to US$21.79 billion, according to the International Monetary Fund's (IMF) Balance of Payments Manual (BPM6), following a US$2.0 billion inflow of funds from the IMF and other sources.

This latest decrease is attributed to a higher payment to the ACU compared to May, likely due to increased imports during the Eid-ul-Azha holiday period.

Earlier in May, Bangladesh cleared $1.6 billion in payment for the March-April period with the ACU.

[email protected]

Share if you like