Bangladesh Bank has cleared $1.42 billion in liabilities to the Asian Clearing Union (ACU) for transactions covering May and June. Following this significant payment, Bangladesh’s gross foreign reserves now stand at $26.171 billion, while reserves calculated according to the International Monetary Fund’s BPM6 formula amount to $20.467 billion as of Tuesday.
Md Mezbaul Haque, executive director and spokesperson of Bangladesh Bank, confirmed the payment.
The ACU, headquartered in Tehran, Iran, is a multilateral clearing union that facilitates transactions among its member countries: Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. The respective central banks of these countries settle import transactions every two months through the ACU mechanism.
The clearance of the ACU liabilities is a routine part of Bangladesh’s international financial obligations, reflecting the country’s ongoing participation in regional economic cooperation. The adjustment in reserves following this transaction indicates the impact of such settlements on the nation’s financial standing.
