Forex reserves fall to 1-year low after ACU payments | The Daily Star
12:00 AM, January 04, 2018 / LAST MODIFIED: 12:10 AM, January 04, 2018

Forex reserves fall to 1-year low after ACU payments

Bangladesh's foreign exchange reserves fell to $32.01 billion yesterday, the lowest since January last year, following the largest ever payments made to the Asian Clearing Union or ACU.

According to central bank data, Bangladesh yesterday paid ACU $1,355 million to settle payments for imports.

The ACU is an arrangement by which the participants settle payments for intra-regional transactions among the participating central banks on a net multilateral basis.

Bangladesh, Bhutan, India, Iran, the Maldives, Myanmar, Nepal, Pakistan and Sri Lanka are members of the Tehran-headquartered ACU that was established in December 1974.

Before paying the ACU yesterday, Bangladesh's foreign currency reserves were more than $33.3 billion, Bangladesh Bank data showed.

The reserves had shot past the $33 billion mark for the first time in history in June last year.

Stay updated on the go with The Daily Star News App. Click here to download it for your device.

fifa world cup

Grameenphone and Robi:
Type START <space> BR and send SMS it to 2222

Banglalink:
Type START <space> BR and send SMS it to 2225

Leave your comments

Top News

Top News

Top