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.
Qatar 'still failing' migrant workers: Amnesty
Qatar has made little progress improving migrant workers' rights, despite promises to do so, the rights group Amnesty International has said.
China reaches out to Indian Ocean through Pakistan
China is uncomfortable about the Indo-US alliance to dominate the region.
