Bangladesh's forex reserves cross $26b
Earlier this month, the reserves had fallen below $26 billion following a payment of $1.50 billion to the Asian Clearing Union (ACU).
Bangladesh's foreign exchange reserves have once again crossed the $26 billion mark, according to the Bangladesh Bank.
The central bank's spokesperson and Executive Director, Arief Hossain Khan, today (17 September) said that the gross reserve stood at $26.08 billion under the BPM-6 method.
"Reserves are rising due to the higher inflow of remittances and the central bank's dollar purchases from commercial banks through auctions," he told The Business Standard.
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He added, "That is why reserves have picked up again after the ACU payment."
Earlier this month, the reserves had fallen below $26 billion following a payment of $1.50 billion to the Asian Clearing Union (ACU). At that point, the gross reserves stood at $25.39 billion.
The ACU is an international transaction settlement system involving Bangladesh, Bhutan, India, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka.
Under the system, central banks of the member countries settle import liabilities every two months.
