Commercial banks witnessed a drop in foreign currencies last month from that in the preceding month mainly due to a sharp fall year-on-year in the inflow of remittance and a relatively small growth in export earnings.
Dealing with these two major challenges is essential for macroeconomic stability
Ever since Sri Lanka and Pakistan’s economic turmoil, Bangladesh’s foreign exchange reserves has become a part of public discourse. So much so that despite having an official figure from the central bank every week, people are speculating.
Bangladesh will continue to see high deficit in its current account balance till 2027, predicts the International Monetary Fund.
Bangladesh has finally embraced a floating exchange rate as the central bank adjusted its interbank foreign exchange rate yesterday in line with market realities.