Bangladesh has cleared $1.88 billion ACU payment for March-April imports

After remaining above the $20 billion mark for just three days, Bangladesh's foreign currency reserves dropped to $18.46 billion after the country paid its regional import bills on October 9.

Reserves hit $19.53 billion on June 19, up from $19.21 billion on June 12

The reserves hit $18.67 billion on June 5, down from $18.72 billion on May 29

Bangladesh Bank today sat with five leading private commercial banks

Thanks to higher inflow of remittances for Eid-ul-Azha

Bangladesh Bank says

Bangladesh plans to cut public foodgrain imports in the next fiscal year in an effort to save foreign currencies and avoid putting further pressure on the already strained forex reserves. 

Finance Minister AHM Mustafa Kamal today in his budget speech hoped that the ongoing stress in the foreign exchange reserves would improve in a short period of time.

The proposition that Bangladesh will move away from the US dollar-based payment settlement to a new international payment settlement is of no economic substance.

The multilateral lender says in its latest regional economic update

The taka has lost its value further against the US dollar after the Bangladesh Bank sold the greenback at Tk 104.5 as the foreign exchange reserves keep falling.

It hit $30.92b on April 30, down from $44.01b on same day a year ago

It seems the government is doing an about-turn from the austerity stance taken at the start of the fiscal year.

The global economic crisis and supply shortage may fuel energy prices in Bangladesh, but the local rates should be adjusted and decreased when the international prices fall, Dhaka Chamber President Barrister Md Sameer Sattar said today.

Bangladesh welcomed 2022 on a strong footing and was about to recover from the coronavirus pandemic in full swing and fire on all cylinders. In fact, economic activities were almost back to the pre-Covid level.  

Bangladesh's foreign currency reserves fell below $34 billion today after the central bank sold $71 million in in the interbank market to help banks clear import bills, said a Bangladesh Bank official.

The burden of imported inflation and supply-side implications of reduced imports will have adverse implications for economic growth and welfare, particularly of marginalised people.

Bangladesh Bank Governor Abdur Rouf Talukder has said there will be no foreign exchange crisis from January 2023, as the country's exports and remittances are in surplus compared to imports.

Rising external debt may pose some risks to Bangladesh’s foreign exchange reserves in the future as higher debt servicing will be required on accumulated loans, said the Bangladesh Bank yesterday.