Crawling Peg System
BB loses Tk 55cr in forex deals with Islami Bank
The Bangladesh Bank has incurred a loss of Tk 55 crore from its foreign exchange deal with Islami Bank centring the introduction of the crawling peg exchange rate system.
Some much-needed policy changes
Economic reforms should not end here, though
Exporters cheer weaker taka
Owing to a chaotic and volatile exchange rate, local exporters were desperate for the introduction of a floating exchange rate so they could draw more money and be more competitive.
Journey to be painful, but necessary
Mansur, a former economist at the International Monetary Fund, said interest rates would rise. This may slow the economy further, but it is necessary to overcome the challenges.
Three difficult choices to heal economy
Bangladesh yesterday made three major decisions to cushion the economy against critical risks such as stubborn inflation and depletion of foreign currency reserves.
Bangladesh Bank launches crawling peg, sets Tk 117 per USD as mid-point
Bangladesh Bank today introduced the crawling peg exchange rate system and allowed banks to buy and sell US dollars freely at around Tk 117.
News Analysis / Crawling peg system: A welcome step but will it be enough to boost reserves?
The crawling peg system for the taka is a delayed and, perhaps, inadequate response to the bleeding of forex reserves. Some economists suggest the central bank should go beyond this formula and open the exchange rate to market forces to stop the continuous erosion of reserves. Either way, exporters and remitters will celebrate more flexibility in the exchange rate.
Taka to trade more freely by next month
Bangladesh will introduce a crawling peg system by next month to make the exchange rate more flexible and improve the foreign currency reserves, a key prescription from the International Monetary Fund.
Crawling peg system likely from 2024’s first quarter
BB sits with ABB, BAFEDA
BB loses Tk 55cr in forex deals with Islami Bank
The Bangladesh Bank has incurred a loss of Tk 55 crore from its foreign exchange deal with Islami Bank centring the introduction of the crawling peg exchange rate system.
Some much-needed policy changes
Economic reforms should not end here, though
Exporters cheer weaker taka
Owing to a chaotic and volatile exchange rate, local exporters were desperate for the introduction of a floating exchange rate so they could draw more money and be more competitive.
Journey to be painful, but necessary
Mansur, a former economist at the International Monetary Fund, said interest rates would rise. This may slow the economy further, but it is necessary to overcome the challenges.
Three difficult choices to heal economy
Bangladesh yesterday made three major decisions to cushion the economy against critical risks such as stubborn inflation and depletion of foreign currency reserves.
Bangladesh Bank launches crawling peg, sets Tk 117 per USD as mid-point
Bangladesh Bank today introduced the crawling peg exchange rate system and allowed banks to buy and sell US dollars freely at around Tk 117.
Crawling peg system: A welcome step but will it be enough to boost reserves?
The crawling peg system for the taka is a delayed and, perhaps, inadequate response to the bleeding of forex reserves. Some economists suggest the central bank should go beyond this formula and open the exchange rate to market forces to stop the continuous erosion of reserves. Either way, exporters and remitters will celebrate more flexibility in the exchange rate.
Taka to trade more freely by next month
Bangladesh will introduce a crawling peg system by next month to make the exchange rate more flexible and improve the foreign currency reserves, a key prescription from the International Monetary Fund.
Crawling peg system likely from 2024’s first quarter
BB sits with ABB, BAFEDA
How the crawling peg for currency will work
The central bank has rolled out a plan to introduce an interim crawling peg system for the taka to regulate abrupt fluctuations of its value, paving the way towards a fully flexible regime in the future.