Lower than $34 billion in forex reserves

Following the central bank’s sale of $71 million in the interbank market to assist banks in paying import bills, Bangladesh’s foreign exchange reserves today slipped below $34 billion, according to a Bangladesh Bank official.

Bangladesh’s foreign exchange reserves were worth $34.05 billion prior to the sale.

As import payments remained greater than export profits and remittances and there was a scarcity of US dollars, the central bank has sold almost $6 billion in the interbank market since July 2022 in an effort to control the volatility.