Yen bounces back after hitting 34-year low at 160 per dollar
Prime Minister Sheikh Hasina on Tuesday said Muslim countries can introduce a common currency like the European Union (EU) to boost trade and commerce among themselves, when a delegation of D-8 trade ministers met her. He said, “It would be great if we, the Muslim countries, could introduce a common currency like the European Union […]
Under this deal, banks will get immediate money in exchange for surplus dollars. Then, upon returning the money after the specified time, commercial banks will receive the dollar equivalent amount from Bangladesh Bank. According to relevant sources, currently commercial banks exchange dollars and money with each other for their needs. Now the swap facility with […]
Despite various efforts, including curbing imports, Bangladesh Bank’s foreign exchange reserves continue to decline and cannot be controlled. The net foreign exchange reserves of Bangladesh Bank were more than US$ 48 billion in August 2021, which has now declined to US$ 26.74 billion. Current foreign exchange reserves according to the International Monetary Fund (IMF)’s calculation […]
Banks receive deposits from people and various public and private institutions. They have to pay regular interest on the deposited amount. Banks have recently raised the interest to the highest possible level to attract more deposits. The weaker a bank is and the more money it needs, the higher its interest rate. Some even made […]