FOREX reserves drops below $9 billion

Foreign exchange reserves of Bangladesh dropped to 8909.7 million on 9 January, for the first time under $9 billion within three years. According to the import payments of November 2011, the current amount of foreign reserves is not enough even for 3 months of import payments! The following table shows the trend.
 

	Foreign Exchange Reserves (in million US$)
FY09	7470.96
FY10	10749.74
FY11	10911.55
FY12
July	10381.26
August	10931.88
September	9883.59
October	10338.28
November	9285.20
December	9634.85
January 9	8909.70

Reason: Higher import payment in recent months as compared to foreign exchange earnings from export and remittances.

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