Bangladesh received over $2 billion in remittances in January for the sixth consecutive month, thanks to a disruption in the flow of money through informal channels following the fall of the Sheikh Hasina-led government last August amidst a student uprising.

The reserves stood at $20.96 billion on October 18

The deficit in Bangladesh’s financial account widened further in the first nine months of the ongoing fiscal year, an indication that the current instability in the foreign exchange market will continue in the coming months. 

Economic uncertainty will keep us on our toes

Bangladesh Bank’s foreign exchange reserves invested in US dollars declined 34 per cent year-on-year to $23.63 billion in February as the country is heavily dependent on the American greenback to settle payments for global trade.

As the US dollar shortage persists, businesses in Bangladesh are increasingly finding it difficult to open letters of credit (LCs) since banks can’t supply the adequate American greenback needed to finance imports.

IMF deal is further proof that economic reforms are badly needed

Bangladesh's foreign exchange reserves have declined to USD 37.06 billion after the central bank had cleared import bills to the Asian Clearing Union, an arrangement to settle payments for intra-regional transactions among member countries including Bangladesh.

Foreign exchange reserves in Bangladesh have slipped below $40 billion after the Bangladesh Bank cleared the import payments to the Asian Clearing Union (ACU).

In the stumbling block of concrete mess at Moghbazar, Minhaz Abedin waits patiently every day, worrying about his unemployed son, something he has been doing for the past three years now.