Bangladesh Bank has paid over US$2.19 billion to the Asian Clearing Union (ACU) to settle import bills for the months of May and June, resulting in a drop in the country鈥檚 foreign exchange reserves to $29.53 billion.
The payment was made on Tuesday as part of the routine bi-monthly settlement of import transactions among ACU member countries.
According to central bank officials, the reserves had exceeded $31 billion at the end of June but declined following the ACU settlement.
Despite the fall, Bangladesh Bank said that the current level of reserves remains stable and within a manageable range supported by steady inflows from remittances, export earnings, and foreign assistance.
鈥楾oday, $2.19 billion has been paid under ACU obligations. Even after the payment, the reserves are at a comfortable level and have not come under any significant pressure,鈥� said Arif Hossain Khan, executive director and spokesperson of Bangladesh Bank.
He added that positive trends in remittance inflows and export growth continue to play a key role in maintaining reserve stability.
The Asian Clearing Union is a regional payment arrangement through which participating countries settle trade transactions on a net basis, reducing the need for foreign exchange holdings.
