Country’s forex reserve stands at $35.90b

Foreign reserve of Bangladesh has declined to $35.90 billion as on Thursday (Oct 20, 2022).

Increase in Bangladesh Bank’s dollar sale to address greenback crisis on the market has affected foreign reserve, sources said.

High import payments coupled with low remittance and export earnings triggered the dollar crisis.

According to a data of central bank, it sold $4.47b to banks from July 1 and October 20 and it inserted $7.62b into the market in FY 2021-22.

The BB sold $60m to banks at Tk 97 rate on Thursday to facilitate import payments.

On August 31, 2022, reserve stood at $39.06b which was $46.2b in September of the previous year.

The period of July-August saw import payment worth $12.7b which was $10.85b same time of bygone year.

Meanwhile, the country recorded trade deficit widening by $270m to $4.55b compared to the previous status.