Bangladesh clears $1.37bn in import bills through ACU
Bangladesh's foreign exchange reserves have decreased further after the country settled import payments amounting to $1.37 billion through the Asian Clearing Union (ACU). Following this payment, the country's gross forex reserves fell below the $20-billion mark, dropping to $19.46 billion as of September 8, according to the International Monetary Fund's (IMF) BPM6 calculations.
Prior to the bi-monthly payment, the forex reserves were recorded at $20.80 billion on September 7, based on data from Bangladesh Bank (BB). When measured using BB's own calculation methods, the reserves declined to $24.53 billion on September 8, down from $25.87 billion the previous day.
A Bangladesh Bank official, speaking anonymously, noted that such a decrease in reserves is typical when the country makes ACU payments every two months, describing the reduction as a regular occurrence. Despite this payment, the official maintained that the reserves remain in a stable position.
The ACU, headquartered in Tehran, facilitates the settlement of payments for intra-regional transactions among its member countries, which include Bangladesh, Bhutan, India, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. These countries clear their payments on a bi-monthly basis.
