Bangladesh’s foreign exchange reserves took a dip yesterday after the central bank settled import bills through the Asian Clearing Union (ACU).
The payment of $1.27 billion brought the country’s gross reserves down to $25.65 billion, a slight decrease from $26.9 billion just a week earlier.
Using BB’s calculation method, reserves stand at $21.7 billion, which aligns with the International Monetary Fund’s (IMF) measurement. This figure represents roughly four months of import cover, slightly above the IMF’s recommended minimum benchmark.
The Bangladesh Bank official cited clearing import bills for the two months via the ACU as the reason for the decline. The ACU facilitates payment settlements among eight countries, including India, a major trading partner for Bangladesh.
While the dip is noteworthy, officials ensure that reserves remain within comfortable levels. The IMF is also expected to release the second tranche of a $4.7 billion loan next month, potentially boosting reserves further.
