In a strategic move aligning with International Monetary Fund (IMF) guidelines, Bangladesh has witnessed a surge in its gross foreign exchange reserves, reaching $21.45 billion. The notable augmentation is attributed to meticulous efforts by the central bank, including the acquisition of US dollars from Islami Bank Bangladesh and the disbursement of loan installments from both the IMF and the Asian Development Bank (ADB).
Reportedly, on the recent transaction front, the Bangladesh Bank executed a purchase of $200 million from Islami Bank on Wednesday, as confirmed by an official source from the central bank. Furthermore, the country received a substantial injection of funds through loans, with $689 million from the IMF and an additional $400 million from the ADB.
This proactive approach underscores Bangladesh’s commitment to maintaining a robust stock of international currencies, in accordance with the IMF’s recommendations. The deliberate efforts to bolster foreign exchange reserves position the country favorably in the global economic landscape, reflecting a strategic financial management approach by the central bank.
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