Sun News Desk: To reduce the dollar crisis and reduce the pressure on the reserves, the government has taken various initiatives to tighten imports, achieve austerity, increase remittances and export income. Even after this, the pressure on the reserves continues to increase. In this, the reserve has been decreasing continuously for the past few months. Today the reserves have fallen below 37 billion.
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Bangladesh Bank sources have given this information.
According to the data of Bangladesh Bank, the amount of dollars last Monday was 37.08 billion dollars. And in the first week of this month, the reserves fell to 37.13 billion due to payment of 1.74 billion by Asian Clearing Union (ACU) countries for July-August period. But last year on August 25, the amount of reserves was 48.60 billion. As such, the reserve has decreased by 11.63 billion dollars in the span of 1 year.
According to the Bangladesh Bank report, various measures taken by the government and Bangladesh Bank have resulted in a 25 percent reduction in LC (Letter of Credit) settlement for imports in August as compared to last July. LC disbursements were $5.93 billion in August, up from $7.42 billion in the previous month.
And in January of this year LC settlement was 6.85 billion, in February 6.55 billion, in March 7.67 billion, in April 6.93 billion, in May 7.25 billion and in June 7.75 billion USD.
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Generally, if a country has a reserve for payment of 3 months of import bills, it is considered as ideal, the relevant people say, with the current reserves of Bangladesh Bank, it is possible to pay more than 5 months of import bills. So there is nothing to worry about this reserve.