Reserves fell to $1.3 billion in July

According to the International Monetary Fund-IMF accounting system, the country's foreign exchange reserves fell by $1.3 billion in July. At the end of the month, the reserves stood at 20.48 billion dollars.

This information was found in an updated report of Bangladesh Bank last Thursday.
It is known that last month the Asian Clearing Union or Akur import bill was paid for the two months of May-June 1.42 billion dollars. At this time, Bangladesh Bank also sold some dollars to commercial banks to open government import letters of credit or LCs.
The central bank said average reserves stood at $25.92 billion at the end of July, up from $26.81 billion at the end of June.
Bangladesh Bank released the net reserve information for the first time last month. According to the net foreign exchange reserves of 16.77 billion dollars. 3 months import bills of the country can be paid with the stored currency.
For the first time in the country's history, foreign exchange reserves crossed the $48 billion mark in August 2021. However, increased demand in the post-Corona economy and the Russia-Ukraine war have led to dollar sales from reserves, reduced foreign debt and investment, and increased repayment of previous liabilities. Reserves have been decreasing continuously in the last 3 financial years.