No worry about forex reserve: Atiur

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Author / Source : independent online/bdnews24.com

Dhaka: Amid press reports that the country's forex reserve is dwindling fast due to increased import spending, the central bank governor says there is nothing to be worried about it.

Talking to bdnews24.com on Sunday, Atiur Rahman said the pressure would go soon as the import costs had been showing downtrend since June.

"Banks have enough dollars. We're encouraging the local enterprises to borrow from foreign sources, too," he added.

According to a bdnews24.com report published on Saturday, the central bank found itself in a tight spot due to consistent increase in import spending and decrease in the value of Taka against dollar.

In response to the report, Atiur said, "It's right there's a pressure on reserve for the unusual hike in import cost, but there is nothing to be worried about it.

"The import spending has been showing a downtrend since June. I hope it'll continue. The flow of remittance is registering an uptrend…the export sector is also positive. All these would help remove the pressure," he said.

The governor said the foreign currency reserve, which decreased to $10 billion on Thursday from the last week's $11 billion, stood at $10.1762 billion on Sunday morning.

"There'll be no problem to foot the import bills during the next three and a half months," he said.

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