Usable foreign exchange reserves fell below $13 billion

Usable foreign exchange reserves fell below $13 billion

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Bangladesh Bank spokesperson Mezbaul Haq attributed the decline in reserves to payment of import bills for the past two months.

Looking ahead, the spokesperson noted the disbursement of the IMF loan tranche next month and the estimated receipt of more than $2 billion from migrants this month. This will increase the flow of dollars and reduce pressure on reserves.

According to the central bank, the country received almost $900 million of expatriate income in the first 12 days of this month. With the current exchange rate rising to 117 taka per dollar, officials expect a potential increase in migrant income and export earnings.

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