Reserves drop below $20b after ACU payment

Bangladesh’s foreign exchange reserves have dipped below $20 billion after the country paid $1.75 billion to settle import bills for January and February under the Asian Clearing Union (ACU), Bangladesh Bank sources reported on Sunday, March 9.  

Post-payment, gross reserves stand at $25 billion, down from $26.60 billion on March 6. 

Under the International Monetary Fund’s BPM-6 methodology, actual reserves are now $19.70 billion, compared to $21.40 billion earlier this month.  

The ACU facilitates transaction settlements among member countries—Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, and Pakistan—headquartered in Tehran, Iran. 

Central banks clear import dues bimonthly, though Sri Lanka’s membership is currently suspended due to its prolonged inability to meet payment obligations amid an economic crisis. 

ACU membership is open to central banks within the UN Economic and Social Commission for Asia (ESCAP) region.