Forex reserves stand at $23.56b as per IMF definition

According to the International Monetary Fund's (IMF) criteria, Bangladesh's foreign exchange reserves were valued at $23.56 billion as of today, the central bank reported.

It follows the BB's agreement to construct and report the official gross foreign reserves in accordance with the IMF's BPM6 handbook on balance of payments and international investment position.

However, if the central bank's customary calculating technique is used, the reserves were $29.97 billion.

The Export Development Fund (EDF) and other programs' monies have been subtracted from the central bank's reported reserves, per the IMF's request.

Due to rising import expenses, fewer than anticipated export revenues, and a decrease in remittance inflows, the nation's foreign exchange reserve has been declining for more than a year.