In August, commercial banks’ foreign-exchange holdings dropped to $5.25 billion, reflecting a 15% decline from $6.09 billion in July, largely due to disruptions from student-led protests that led to the fall of former Prime Minister Sheikh Hasina’s government. The inflow of foreign currencies almost halted during the first half of the month, contributing to the decline. Year-on-year, forex holdings fell by 10% from $5.81 billion. Despite the short-term dip, industry leaders like Syed Mahbubur Rahman of Mutual Trust Bank expressed optimism about the forex situation, citing recent growth in remittances and expected increases in foreign aid.
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