Bangladesh has paid $1.75 billion for the import bill of the Asian Clearing Union (ACU). As a result of the payment of ACU bills for January and February, the actual foreign exchange reserves have fallen below $20 billion. This information was revealed by Bangladesh Bank sources on Sunday (March 9).
According to Bangladesh Bank data, after the payment of ACU bills, the country’s gross foreign exchange reserves have fallen to $25 billion. And according to the International Monetary Fund or IMF, (BPM-6) the country’s foreign exchange reserves are now $19.70 billion.
Earlier, on March 6, the gross foreign exchange reserves were $26.60 billion. And according to BPM-6, the reserves were $21.40 billion.
The Asian Clearing Union or ACU is an inter-country transaction settlement system. Through which the liabilities of transactions between Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka are paid. The headquarters of ACUR is in Tehran, the capital of Iran.
The central banks of the concerned countries pay for imports every two months. However, due to various crises, Sri Lanka is no longer a member of ACUR. The country’s membership has been temporarily suspended due to its failure to meet various conditions for paying import costs for a long time due to the economic crisis.
ACUR membership is open to the central banks of countries located within the geographical boundaries of the United Nations Economic and Social Commission for Asia (ESCAP).
