Dollars in reserves insufficient for emergencies, says Salehuddin

The current US dollar reserves held by Bangladesh are insufficient to meet emergency needs, Finance Adviser Dr Salehuddin Ahmed has said. He added that the Bangladesh Bank’s decision to purchase dollars from the market is therefore justified. Dr Salehuddin made the remarks in response to journalists’ questions following a joint meeting of the Advisory Council Committee on Public Purchase and the Advisory Council Committee on Economic Affairs. The meeting was held in the conference room of the Cabinet Division at the Secretariat on Tuesday, 23 September. Journalists asked whether, given the declining demand for dollars, its price should not also fall — and whether the central bank’s recent purchase of two million dollars to maintain price stability had placed undue...