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’s foreign exchange reserves to $29.53 billion.
The payment was made on Tuesday (July 8) 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.
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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.
"Today, $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," 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.