Bangladesh’s foreign exchange reserves stood at $20.467 billion as of Tuesday after clearing $1.42 billion in liabilities to the Asian Clearing Union (ACU) for the months of May and June.

Bangladesh Bank has cleared $1.42 billion in liabilities to the ACU, and following this transaction, the country’s gross reserves stand at $26.171 billion.

According to the International Monetary Fund’s (IMF) formula, reserves are at $20.467 billion as of Tuesday.
Md Mezbaul Haque, executive director and spokesperson for the Bangladesh Bank, confirmed the payment.

The ACU, headquartered in Tehran, Iran, is an international transaction settlement system.

It facilitates transactions between Bangladesh, Bhutan, India, Iran, the Maldives, Myanmar, Nepal, Pakistan and Sri Lanka, with respective central banks settling import amounts every two months.