Foreign exchange reserves drop to $21.70 billion

The foreign exchange reserves of Bangladesh dropped to $21.70 billion after the latest payment of import bills worth $1.36 billion through the Asian Clearing Union (ACU).

According to officials at the central bank, the amount of Bangladesh’s gross foreign exchange reserves is now $21.70 billion as per the definition of the International Monetary Fund’s (IMF) balance of payments and investment position manual.

Local newspapers on Monday said Bangladesh Bank recently cleared the import bills for the months of July and August. The central bank also sold dollar currency worth $75 million to other banks from the reserve.

Before the latest ACU payment and sales of dollars, the amount of foreign exchange reserve was $23 billion.