On the other hand, he said, with the speedy economic recovery from the Covid pandemic situation in Bangladesh, import volume has increased at a record high level.

Consequently, during the July-April period of FY22, the current account deficit stood at US$ 15.3 billion, he said, adding that related to that, there has been a stress on the exchange rate originating from the increased demand for US dollar in the local market.

To manage this crisis, Bangladesh Bank released US$ 6.08 billion up to 1 June, 2022 in the local foreign exchange market, he added.

In October 2021, the finance minister said the amount of foreign exchange reserve was US$ 48 billion, which has now declined to US$ 42 billion.

Besides, Taka is being depreciated against US dollar, and since 1 July of current fiscal year to 6 June, 2022, taka depreciated against US dollar by around 7.9 per cent, he said.

“So, along with containing inflation, maintaining imports at a reasonable volume and keeping foreign reserves stable would be a great challenge for us,” he added.

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