Forex reserves reduce by $534 million in a week

Foreign exchange reserves have dropped by $534 million within a week, with bankers attributing the decline to continued dollar sales.

The reserves have now fallen from $19.99 billion to $19.45 billion compared to a week earlier, according to the Balance of Payments and International Investment Position Manual (BPM6).

The reserves were above $21 billion in the first week of March this year. It went below $19 billion after the clearance of $1.35 billion in Asian Clearing Union payments and the sale of US dollars to commercial banks by Bangladesh Bank.

According to the Bangladesh Bank, the reserves decreased by more than $1.5 billion on the 22nd day of this month.

The reserves have fallen to $19.45 billion, which was $21.15 billion on March 6.