Bdnews24.com . Dhaka
The Bangladesh Bank’s foreign currency reserve is declining due to a hike in import costs.
It has apparently become difficult for the central bank of the country to pay for the import spending in the next three months with the current reserve.
Admitting pressure on the reserve, governor Atiur Rahman told the news agency that he is hopeful of resolution of the crisis soon.
Former advisor to the caretaker government A B Mirza Azizul Islam suggested staying alert about the matter.
The foreign currency reserve of the central bank was $10 billion on Thursday, which is $1 billion less than the last week’s reserve.
The reserve fell sharply as the bank paid $838 million to the Asian Clearing Union last week.
Mirza Azizul on Saturday said that a difficult situation would emerge if the reserve was not raised and the increasing trend of import expense continued.
‘We have to spend more for import as the value of Taka against Dollar has decreased. It has become a matter of great anxiety for us,’ he said.
‘The flow of our foreign aid is not so good. Many of them are stuck in pipeline. They aren’t getting cleared. The foreign currency reserve crisis will ease if the aids are cleared.
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