Bangladesh's foreign currency reserves slipped below $20 billion yesterday following the central bank's settlement of import bills through the Asian Clearing Union (ACU).
The ACU is an arrangement for settling payments for intra-regional transactions among eight countries: Bangladesh, Bhutan, India, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka.
The central bank of Bangladesh cleared import bills worth $1.37 billion last week, according to a central banker.
Thus, the reserves fell to $19.44 billion on Thursday, as per Bangladesh Bank's calculation based on the International Monetary Fund's Balance of Payment Manual.
