Bangladesh central bank buys $80mn to boost reserves before ACU payment

Bangladesh is going to pay the Asian Clearing Union liabilities of March and April next week

The central bank has purchased $80 million from three banks at a rate of Tk122.75 per dollar so far this month, taking the foreign exchange reserves to $35.30 billion.

With the updates as of Tuesday, the International Monetary Fund's (IMF) reserves in the BPM6 system stood at $30.61 billion.

Bangladesh is going to pay the Asian Clearing Union (ACU) liabilities of March and April next week.

According to the central bank, $50 million was bought on Tuesday and $30 million on Monday.

The country has so far purchased $5.75 billion in the current fiscal year.

Bangladesh's reserves were $30.51 billion at the end of Sunday, according to the IMF's BPM-6 method. In gross or total terms, it was $35.20 billion.

After buying the dollar at Tk122.30 on Mar 2, Bangladesh Bank increased the price by 45 paisa on Apr 15.

It bought dollars three times at this rate. Bangladesh last paid $1.37 billion in ACU bill in March.