Forex reserves dip below $30b after ACU payment
According to BPM-6, the central bank’s reserves now stand at $29.48 billion
Bangladesh's foreign exchange reserves have fallen below the $30 billion mark following the latest payment to the Asian Clearing Union (ACU).
Bangladesh Bank spokesperson and Executive Director Arief Hossain Khan today (10 May) said that the country's reserves stood at $29.48 billion under the BPM-6 calculation method.
"According to BPM-6, the central bank's reserves now stand at $29.48 billion, down from $30.96 billion reported on 7 April," he said.
Keep updated, follow The Business Standard's Google news channel
The ACU is a regional payment arrangement that facilitates settlement of import transactions among its nine member countries – Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka.
The payment mechanism allows the member states' central banks to settle eligible cross-border transactions on a multilateral basis. ACU payments are made every two months.
