Bangladesh’s foreign exchange reserves decline by $1.47b in eight days

The foreign exchange reserves of Bangladesh decreased by approximately $1.47 billion over an eight-day period, a local daily newspaper reports.

Citing Bangladesh Bank’s weekly report, the newspaper reported that the country’s foreign exchange reserves stood at $23.18 billion as of September 05. They dropped to $21.71 billion just eight days later, on September 13.

The country's foreign exchange reserves have been on a declining trend for over a year now due to higher import payments and lower-than-expected earnings from exports and remittances.