DHAKA, July 14 (Xinhua/APP): Bangladesh’s central bank has revealed a drastic drop of over 6 billion U.S. dollars in the country’s foreign exchange reserves.
Bangladesh Bank (BB) in a website post on Thursday said, “The country’s reserves reached 23,567.53 million as of July 12, compared to the previous calculation of 29,973.40 million.”
A BB official who didn’t like to be named said the revised figure aligns with the international standard as advised by the International Monetary Fund (IMF) while offering its loan to the country.
As per IMF suggestions, the BB official said, the central bank must follow the standard where BB spending for export development fund (EDF), loan to Sri Lanka, and financing domestic projects from reserves must be excluded.
