Forex reserves slightly up

Business Desk :
Bangladesh’s foreign currency reserves rose slightly over the past week after a long time, showed central bank data.
The reserves stood at $19.16 billion as of Wednesday as per the formula of International Monetary Fund (IMF) to calculate readily available funds, up by nearly $35 million from $19.13 billion a week ago, showed BB data.
The country’s forex reserves has been declining sharply since the start of the Russia-Ukraine war as the conflict sent up prices of commodities such as oil and gas, hurting import-dependent nations such as Bangladesh.
The forex reserves will rise further once upcoming IMF and Asian Development Bank loans along with funds from other sources are available, said the central bank officials.
Bangladesh will receive $1.31 billion in December in loans from various sources, including $689 million in a second tranche of a $4.7 billion IMF loan, as per central bank officials.