After paying off ACU bills, the Forex reserve has remained at a standstill at over $31 billion

Bangladesh's gross foreign exchange reserves (forex) remains stable at over 31 billion after paying import dues amounting to $1.60 billion to member countries of Asian Clearing Union (ACU)

The country’s gross forex reserve fell to  $31.14 billion on Sunday from 32.71 billion on last week. After paying import dues for the months of September and October .

A senior official of Bangladesh Bank( BB) reported that they have been working since  August 2024 to raise up the country’s  foreign exchange reserves. Even now,  reserves are  at  a fairly satisfactory level. Though  routine ACU payments are being made.

He also said that,  Due to, high inflow of remittances, along with stable growth of export earnings, has helped to strengthen  the Country’s foreign exchange reserves. 

According to a  post by the central bank,  buying dollars from the commercial bank by the  Bangladesh Bank has also helped to boost up foreign exchange reserves. 

Meanwhile , BB officials said the central bank has already remitted the required funds to the ACU headquarters in Tehran, in accordance with the union’s existing provisions.

Under these provisions, member countries are required to settle their outstanding import bills, along with the applicable interest, at the end of every two months.