Forex reserves dip to $33.86b

Bangladesh’s foreign exchange reserves declined to $33.86 billion on November 30, according to central bank data.

However, if the reserves are calculated without the sum of $8 billion in compliance with IMF conditions, the actual reserve position will stand at $25.86 billion.

This figure reached $35.72 billion on November 1 this year, and fell by $1.86 billion throughout the month.

Bangladesh’s foreign exchange reserve has been falling due to meeting import demand of essential goods and a downward trend in remittance-export incomes, Bangladesh Bank data revealed on November 8.

After paying $1.35 billion to Asian Clearing Union (ACU) as an import bill for September-October, and $131 million spent to meet LC liabilities, the forex reserves stood at $34.3 billion at the end of November 7. $1.35 billion in ACU bills has been paid in September-October. Earlier, Bangladesh had to pay $1.73 billion for the July-August period and $1.96 billion during May-June.