Bangladesh continues to battle the depleting foreign currency reserves even as the financial account of the balance of payments (BoP) turned negative in the first five months of the current fiscal year, highlighting the challenges the country is facing in protecting its foreign currency reserves from exhaustion.
This is as per media reports, which citing data from Bangladesh’s central bank-Bangladesh Bank, maintained the financial account deficit stood at US $ 157 million In July-November of the current fiscal year, way lower than a surplus of US $ 4.84 billion recorded in the identical period a year earlier.
Meanwhile, speaking to the media, many economists further reportedly claimed the crisis facing the BoP may accelerate the depletion of the Bangladesh’s foreign currency reserves, which stood at US $ 33.63 billion on January 4, down from what was US $ 44.95 billion a year ago.
