Forex reserves fall to $34.85bn after ACU payment

Bangladesh’s foreign exchange reserves have declined following the payment of import bills to the Asian Clearing Union (ACU), bringing the country’s gross reserves to $34.85 billion.

According to the International Monetary Fund’s (IMF) BPM6 accounting method, the country’s usable or net foreign exchange reserves have fallen to $29.98 billion.

Net reserves are calculated by deducting various liabilities from the gross reserves.

Bangladesh Bank spokesperson Arif Hossain Khan disclosed the latest figures on Thursday.

The central bank said Bangladesh had paid $1.64 billion in import bills to the ACU for September and October.

In the previous two months, the country paid $1.39 billion.

The ACU payment increased mainly due to a rise in imports, according to Bangladesh Bank.