The Bangladesh Bank is actively purchasing dollars from banks to meet the International Monetary Fund’s (IMF) year-end forex reserve requirements under the $4.7 billion loan program. The central bank recently acquired $200 million from Islami Bank and over $100 million from other banks. The move aims to bridge the gap and maintain the required net reserve of $17.48 billion by the end of December 2023, although the current net reserve is close to $16 billion. While the central bank has consistently sold dollars to commercial banks in recent years, the immediate plan involves purchasing dollars from banks, given the lack of foreign sources to meet reserve targets.
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