Letter of credit (LC) settlements fell by 9 per cent to $6.58 billion from June to July as Bangladesh bank continued to tighten its control over imports amid the ongoing volatility of foreign exchange reserve.
Bangladesh Bank Executive Director and spokesperson Md Serajul Islam said on Sunday that the LC settlements have fallen in July due to a series of initiatives that the central bank took to reduce import payments.
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LC opening also fell by 30.20 per cent in July, In July, the total LC opening was $5.47 billion, down from $7.9 billion in June, according to provisional data of the central bank.
