{"id":208,"date":"2023-10-19T11:59:11","date_gmt":"2023-10-19T11:59:11","guid":{"rendered":"https:\/\/etcnews.net\/?p=208"},"modified":"2023-10-19T11:59:13","modified_gmt":"2023-10-19T11:59:13","slug":"forex-reserve-slips-below-21-billion","status":"publish","type":"post","link":"https:\/\/etcnews.net\/?p=208","title":{"rendered":"Forex reserve slips below $21 billion\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>The reserves stood at $20.96 billion on October 18<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The reserves stood at $20.96 billion on Wednesday, down from $21.05 billion on October 4, central bank figures showed.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The volatility in the global market driven by the Russia-Ukraine war has sent commodity prices higher, hitting the reserve level of import-dependent countries such as Bangladesh.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The country had forex reserves of about $40.7 billion in August 2021 and $33.4 billion at the end of 2021-22, according to a document of the International Monetary Fund (IMF).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since banks, especially the state-run lenders, are taking US dollar support from the central bank to settle import payments of Bangladesh Petroleum Corporation, Bangladesh Agricultural Development Corporation, and Bangladesh Chemical Industries Corporation, among other agencies, the reserves have been falling continuously.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand, export and remittance receipts, the two biggest sources of US dollars for Bangladesh, have remained lower than expected&nbsp;levels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The reserves stood at $20.96 billion on October 18 The reserves stood at $20.96 billion on Wednesday, down from $21.05 billion on October 4, central bank figures showed.\u00a0 The volatility in the global market driven by the Russia-Ukraine war has sent commodity prices higher, hitting the reserve level of import-dependent countries such as Bangladesh. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"location":[],"class_list":["post-208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-29"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Forex reserve slips below $21 billion\u00a0 - ETC News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/etcnews.net\/?p=208\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex reserve slips below $21 billion\u00a0 - ETC News\" \/>\n<meta property=\"og:description\" content=\"The reserves stood at $20.96 billion on October 18 The reserves stood at $20.96 billion on Wednesday, down from $21.05 billion on October 4, central bank figures showed.\u00a0 The volatility in the global market driven by the Russia-Ukraine war has sent commodity prices higher, hitting the reserve level of import-dependent countries such as Bangladesh. 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