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Country's reserves drop to USD 19.94 billion
Bank insiders attribute the depleting health of the reserves to the continuous selling of dollars by the central bank, dropping USD 83 million from USD 20.02 billion in one week.
The country's gross reserves dropped to USD 19.94 billion on Thursday, according to calculations following the BPM-6 method prescribed by the International Monetary Fund (IMF).
Bank insiders attribute the depleting health of the reserves to the continuous selling of dollars by the central bank, dropping USD 83 million from USD 20.02 billion in one week.
Saleh Uddin Ahmed, former governor of Bangladesh Bank, said reserves are decreasing because the Bangladesh Bank is constantly selling dollars while the inflow of foreign currency has decreased.
The main reason for the dollar crisis in Bangladesh is the decrease in inflows and that it will not end until the inflows increase, he added.