Reserve depletion continues
Dhaka, April 26 -- The Bangladesh Bank has sold a substantial amount of US dollars from its foreign exchange reserves to local banks, totaling $11.67 billion in less than 10 months of the current financial year of 2023-24.
It was known that from July to December of this fiscal year alone, the depletion amounted to $6.7 billion, reaching over $11 billion by April 22, as per data from the central bank.
Over the past 34 months, the Bangladesh Bank has sold approximately $32.79 billion, including $13.5 billion in FY23 and $7.62 billion in FY22, from its foreign exchange reserves to banks.
The foreign exchange reserves stood at $41.8 billion in June 2022 and $46.2 billion in September 2021. However, experts attribute the depletion of foreig...
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