foreign exchange market
Dollar-Taka: Market to dictate exchange rate once situation improves
The market will determine the price of the US dollar in the future once the current situation centring it improves, according to Bangladesh Bank Governor Abdur Rouf Talukder.
Import bills stay at higher levels
Import bills rose 63 per cent year-on-year to $7.66 billion in July but it declined from a month ago, signalling the easing of international payment pressure thanks to the recent Bangladesh Bank efforts to cool down the volatile foreign exchange market.
Card Payment: Foreign currency transactions hit all-time high
Foreign currency transactions through cards hit an all-time high of Tk 356 crore in May due to a rise in the number of travellers going abroad.
How to resolve the current account 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.
'Use monetary policy to stabilise forex market, curb inflation'
The central bank of Bangladesh will have to use the monetary policy to stabilise the foreign exchange market to pave the way for curbing inflation through demand management, said Ahsan H Mansur, executive director of the Policy Research Institute of Bangladesh.
Forex market volatility deepens
Volatility in the country’s foreign exchange market has intensified once again as Bangladesh Bank has commenced tinkering with the exchange rate of the taka against the US dollar.
Bangladesh Bank decides to allow floating exchange rate for dollar
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.
Remittance falls 13.15% in May
Inflow of remittance declined 13.15 per cent in May as the expatriate Bangladeshis are now sending their income through the informal channels.
Bangladesh Bank raises policy rate: Aims to contain inflation, stabilise forex market
The Bangladesh Bank yesterday raised its key interest rate for the first time in a decade and devalued the local currency for the seventh time this year against the dollar as part of its moves to tackle inflationary forces and restore stability in the foreign exchange market.
Record fines for currency market fix
Five of the world's largest banks are to pay fines totalling $5.7bn (£3.6bn) for manipulating the foreign exchange market, US officials say.
