Dhaka, March 29 -- A growing gap between weak export earnings and higher import costs has reduced Bangladesh's foreign currency reserves by nearly $1 billion over the past month, according to central bank data.

According to the Bangladesh Bank (BB), the country's usable reserves, calculated under the IMF's BPM6 manual, stood at $29.29 billion at the close of business on Sunday.

Gross reserves, on the other hand, were recorded at $33.99 billion.

Arief Hossain Khan, executive director of the BB, confirmed the updated figures.

The decline marks a significant shift since Feb 26, when Governor Md Mostaqur Rahman assumed office.

On that date, BPM6 reserves were $30.27 billion, representing a drop of $983.2 million in just over 30 days. Sim...