Foreign exchange reserves in Bangladesh have slipped below $40 billion after the Bangladesh Bank cleared the import payments to the Asian Clearing Union (ACU).
The inter-bank call money rate in Bangladesh rose further today owing to the growing demand for cash ahead of Eid-ul-Azha, the government's increased borrowing from the banking system and purchases of US dollars by banks to settle import bills.
Bangladesh’s trade deficit is projected to be $33 billion in the outgoing fiscal year as export earnings and remittances continue to fall below the overall import cost, said Bangladesh Bank in its monetary policy for the next fiscal year.
Bangladesh Bank today set a 14.1 per cent private sector credit growth for 2022-23, marginally down from the target fixed for the outgoing fiscal year.