Bangladesh plans to cut public foodgrain imports in the next fiscal year in an effort to save foreign currencies and avoid putting further pressure on the already strained forex reserves.
Finance Minister AHM Mustafa Kamal today in his budget speech hoped that the ongoing stress in the foreign exchange reserves would improve in a short period of time.
The proposition that Bangladesh will move away from the US dollar-based payment settlement to a new international payment settlement is of no economic substance.
The multilateral lender says in its latest regional economic update
The taka has lost its value further against the US dollar after the Bangladesh Bank sold the greenback at Tk 104.5 as the foreign exchange reserves keep falling.
It hit $30.92b on April 30, down from $44.01b on same day a year ago