Foreign reserves saw slight rise before Eid

Foreign reserves rose by $310 million in 12 days to $24.52 billion on 12 June from $24.21 billion at end-May, according to the latest data from Bangladesh Bank.

As per the BPM6 calculation of the International Monetary Fund, the reserves increased by $487.3 million to about 19.21 billion on 12 June from $18.72 billion at the beginning of June.

The reserves stood at $25.37 billion at the beginning of May, but dipped to $23.90 billion on 15 May following the $1.63 billion payment clearance to the Asian Clearing Union (ACU). As per the BPM6 method, reserves stood at $18.42 billion

Reserves are likely to get a boost soon as the IMF may release $1.15 billion in the third trench of its $4.7-billion loan to Bangladesh in the next week, and this fund will be added to the forex.