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Bangladesh’s foreign exchange reserves now $23.57 billion
GreenWatch Desk
Banking
2023-07-13, 9:29pm
Bangladesh Bank (BB) has finally accepted the formula prescribed by the International Monetary Fund (IMF) in calculating foreign exchange reserves that stood at $23.57 billion on Thursday.
However, according to the Bangladesh Bank's calculations on Wednesday the reserve was $29.97 billion.
One of the conditions for the IMF's $4.7 billion loan to Bangladesh was to release the reserve account by June as per a model called BPM-6.