As much as $900 million has been on hold since 2022 in the central bank's escrow account
The central bank’s tight grip has driven the dollar's mid-rate from Tk 117 to Tk 119 per dollar by the end of 2024, sparking debates.
Businessmen involved in import-dependent industries that have suffered losses due to the depreciation of the local currency against the US dollar will get up to eight years to repay their loans.
The Bangladesh Bank injected $12.79 billion into banks from its reserves in the just-concluded 2023-24 fiscal year as banks combatted a severe US dollar crisis which hampered import payments.
It's because of the inflation-led pressures on Bangladesh’s taka and the central bank's undervaluation of the US dollar.
For over a year now, thousands of Bangladeshi students wanting to study abroad have encountered obstacles while trying to open bank profiles essential for paying their fees or other expenses like housing and transportation
Bangladesh Bank is hunting for dollars to rebuild its depleting foreign exchange reserves ahead of the January 7 national election.
Strangely enough, although the government is unable to meet power needs, it pays thousands of crores to government and private power plants as fixed charges or capacity charges every month with taxpayers’ money.
When a year passes, those who had a good time look forward to continuing the momentum while those who had struggled to keep their head above water might breathe a sigh of relief.
Bangladesh Bank is anticipating the pressure on the balance of payments will blow over by the end of this fiscal year thanks to hearty assistance from development partners –-- an outlook termed wishful by economists.
In recent months, the Bangladeshi taka has plummeted to new depths against the US dollar amid a worsening foreign exchange reserve crisis.
Bangladesh observed a prohibitive current account deficit of $17.1 billion in the last fiscal year of 2021-22. It, however, averaged $0.32 billion annually over the 12-year period from 2009 to 2021.
Confirming Bangladesh’s request for a loan from International Monetary Fund (IMF) Finance Minister AHM Mustafa Kamal has said that it does not mean the country's economy is in bad shape.
The Bangladesh Bank today decided not to fix the exchange rate of the US dollars, allowing the market to set the price based on demand and supply.
The Bangladesh Bank will sit with the Association of Bankers, Bangladesh (ABB) tomorrow to discuss the ongoing foreign exchange volatility in the country's banking sector.
