Following the payment of $1.37 billion in bills to the Asian Clearing Union (ACU), the country’s foreign exchange reserves have once again fallen below $30 billion.
Bangladesh Bank Spokesperson and Executive Director Arief Hossain Khan confirmed the development today (8 March), saying that after the ACU payment for January and February, the reserves now stand at $29.38 billion.
ACU payments are made every two months to settle import transactions among member countries under the regional clearing arrangement.
The ACU was established on 9 December 1974 under the initiative of the United Nations Economic and Social Commission for Asia, with its headquarters in Tehran, Iran.
The organisation facilitates the settlement of trade payments among its nine member countries – Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka – through a multilateral clearing system involving the central banks of these nations.
https://www.tbsnews.net/economy/forex-reserves-fall-2938b-after-acu-payment-1380816
