Dhaka, Bangladesh (BBN)– Bangladesh foreign currency reserve reached at US$31.90 billion on Tuesday following receiving a fund worth $60 million from the World Bank.
The country’s forex reserve rose to $31.90 million on the day from $31.72 billion of the previous level, according to the central bank officials.
Bangladesh will able to settle import bills for more than five months with existing forex reserves.
The highest $33.68 billion reserves were recorded on September 05, 2017.
Earlier, Bangladesh had made a routine payment of US$987 million to the Asian Clearing Union (ACU) against imports during the September-October period of this calendar year.
After the payment, foreign exchange (forex) reserves fell to $31.60 billion on November 07 from $32.60 billion on the previous working day.
Under the existing provisions, outstanding import bills and interest thereof are to be paid by the member countries at the end of every two months.
The ACU is an arrangement involving Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan, Sri Lanka and the Maldives through which intraregional transactions among the participating central banks are settled on a multilateral basis.
The union started its operation in November 1975 to boost trade among the member countries. Bangladesh and Myanmar joined the union as the sixth and seventh members in 1976 and 1977 respectively. Bhutan joined the ACU in December 1999 and the Maldives in January 2010.
BBN/SSR/AD
