foreign exchange

Reserves surpass $31 billion

It hits $31.15 billion today

Financial account deficit goes past $2b

The deficit in Bangladesh’s financial account widened further in the first nine months of the ongoing fiscal year, an indication that the current instability in the foreign exchange market will continue in the coming months. 

Foreign banks’ forex income soars

The earnings of foreign banks operating in Bangladesh rocketed in 2022 buoyed by their incomes from the dealings of international currencies.

Wide gap in formal-informal exchange rates led to forex reserve slide: WB

A wide gap in formal and informal exchange rate has been one of the factors behind the sharp fall in the foreign exchange reserves in Bangladesh as it shifts remittances from official channels to unofficial routes and impedes repatriation of export proceeds, said the World Bank.

Biman eyeing 10 Airbus planes

Biman directors have accepted in principle a proposal to buy 10 Airbus planes.

Central bank’s USD investment plunges

Bangladesh Bank’s foreign exchange reserves invested in US dollars declined 34 per cent year-on-year to $23.63 billion in February as the country is heavily dependent on the American greenback to settle payments for global trade.

No visible step from BB to ease importers’ woes

The Bangladesh Bank is yet to take any visible measure in line with a commerce ministry directive aimed at asking banks to earmark a portion of their foreign currency holdings to open letters of credit to import essentials ahead of Ramadan. 

No forex crisis from Jan 2023: Bangladesh Bank Governor

Bangladesh Bank Governor Abdur Rouf Talukder has said there will be no foreign exchange crisis from January 2023, as the country's exports and remittances are in surplus compared to imports.

Timely steps can help avert crisis

Bangladesh may fall into deep economic crisis unless it puts in place comprehensive policies and reforms, and starts implementing them immediately, said a number of economists yesterday.

September 20, 2022
September 20, 2022

Foreign funds in stocks flying off amid forex worries

Foreign investors in Bangladesh’s stock market are selling shares en masse as the local currency’s depreciation against the US dollar coupled with various policy changes over the past few years has lowered their confidence in securing adequate returns. 

August 25, 2022
August 25, 2022

IMF Loan Talks: Here's how we need to prepare

The economy needs firm handling to ensure the situation doesn't turn into a crisis.

August 11, 2022
August 11, 2022

Forex pressure may ease by Dec but inflation to stay

The record fuel price hike last week has thrown a spanner in the works to the finance division’s projection of bringing the twin problems of inflation and delicate foreign currency reserves under control by December.

August 6, 2022
August 6, 2022

Government’s decision to hike fuel prices will hurt every section of society

The rise in fuel prices is an illogical decision that will only harm ordinary citizens and fail to deal with the root causes of the crisis that Bangladesh is currently facing.

August 3, 2022
August 3, 2022

Taking loans v tackling laundering: Which serves our long-term interests best?

Fighting tax evasion, preventing trade-based illicit financial outflows and ending the culture of money laundering and loan defaults is a much more sustainable solution to adding to foreign exchange reserves than taking foreign loans on interest.

July 1, 2022
July 1, 2022

What made the dollar crisis worse?

One dollar now costs almost Tk 100. The taka has been losing its value against the US dollar for months, with no signs of it changing.

May 16, 2022
May 16, 2022

Pakistan receives all-time high $3b remittances in April

For the first time, Pakistan’s remittances crossed the figure of $3 billion in a month, which gave hope that the country would achieve its annual remittance target of $30bn.

July 18, 2018
July 18, 2018

Bank's shady foreign exchange dealings

The Bangladesh Bank (BB) has found that a state-owned bank is openly skirting rules when it comes to foreign exchange transactions. Several major business houses which have been allowed to open letters of credit (LC) and transfer funds abroad, have not submitted bills of entry, which is a proof of goods entering country.

July 17, 2018
July 17, 2018

Unsettled Lcs, ghostly import

The Bangladesh Bank has detected some gross violations in foreign exchange transactions that have raised concerns about money laundering.

July 2, 2015
July 2, 2015

Record $15.30bn remittance in FY 2014-15

Bangladesh received record $15.3 billion in remittance from expatriates working abroad in the last fiscal year.

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