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Import payment costs $133cr, forex reserve nosedives over $34b

Import payment costs $133cr, forex reserve nosedives over $34b
Bangladesh

Bangladesh Bank (BB) has decided  to have its dollar assistance confined to important of food, fuel and fertiliser right now.

In the given circumstances, the scheduled banks will have to tackle the situation as regards to import payments with internal capacity.
The central bank is reportedly under pressure following recent import payments hitting the country's reserve a new low.

According to sources, import payments required $133cr on Monday pulling down the foreign reserve to $34.47b.

The situation has prompted Bangladesh Bank to give dollar assistance only for importing food, fertiliser and energy for three months prospectively.

Meanwhile, Dhaka Stock Exchange held a meeting with IMF which recommend reforms measure to resolve the crisis.