The interim government expects the country’s gross foreign exchange reserves to rise to $34.4 billion by the end of the fiscal year (FY) 2025–26, buoyed by strong remittance inflows, export performance, and budgetary support from development partners.
Bangladesh’s foreign exchange reserves fell to $20 billion yesterday from $21.67 billion after the country paid $1.67 billion in regional import bills through the Asian Clearing Union (ACU).
Remittance inflow has continued to rise for the past few months, providing a breather for a country facing multiple challenges, including external payment pressures amid dwindling foreign exchange reserves.
Three major indicators of the economy -- imports, remittances and foreign exchange reserves -- are likely to increase in the first quarter of the current fiscal year, a positive development for the external accounts, according to the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI).
$1.42 billion of import bills for May and June were paid through Asian Clearing Union (ACU)
$1.63 billion of ACU payment was settled today
Reserves stood at $20.68 billion on Dec 20
IMF will give $689 million, ADB $400 million and other sources $220 million
Bangladesh Bank is hunting for dollars to rebuild its depleting foreign exchange reserves ahead of the January 7 national election.
The interim government expects the country’s gross foreign exchange reserves to rise to $34.4 billion by the end of the fiscal year (FY) 2025–26, buoyed by strong remittance inflows, export performance, and budgetary support from development partners.
Bangladesh’s foreign exchange reserves fell to $20 billion yesterday from $21.67 billion after the country paid $1.67 billion in regional import bills through the Asian Clearing Union (ACU).
Remittance inflow has continued to rise for the past few months, providing a breather for a country facing multiple challenges, including external payment pressures amid dwindling foreign exchange reserves.
Three major indicators of the economy -- imports, remittances and foreign exchange reserves -- are likely to increase in the first quarter of the current fiscal year, a positive development for the external accounts, according to the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI).
$1.42 billion of import bills for May and June were paid through Asian Clearing Union (ACU)
$1.63 billion of ACU payment was settled today
Reserves stood at $20.68 billion on Dec 20
IMF will give $689 million, ADB $400 million and other sources $220 million
Bangladesh Bank is hunting for dollars to rebuild its depleting foreign exchange reserves ahead of the January 7 national election.
Like in the outgoing financial year, the common people in Bangladesh will continue to suffer from higher consumer prices in 2023-24 as the factors behind the elevated level of inflation are unlikely to change dramatically.
