Dhaka | Dhaka City | Bangladeshi News
Dhaka | Dhaka City | Bangladeshi News
Instructions for purchasing remittances at fixed price During a meeting last Wednesday, the Bangladesh Foreign Exchange Dealers Association (BFEDA) and the Association of Bankers, Bangladesh (ABB) decided to maintain buying of the dollar at Tk110.5 for remittances and export earnings, as practiced earlier. I went. With 5 per cent incentive, the maximum dollar price would […]
“There is a way out of this economic crisis. Everyone cast their vote. Let the people of Bangladesh decide what will be the path for Bangladesh. An inclusive economy is impossible without inclusive elections. You cannot separate the economic crisis from politics. Ali Riaz said, establishing the right to vote is the only way out […]
Normally, an apex body of bankers, the Association of Bankers, Bangladesh (ABB), and an organization of banks involved in foreign exchange, the Bangladesh Foreign Exchange Dealers Association (BAFEDA), decide the price of the dollar on the advice of the central bank. . Money changers usually buy US dollars from people returning from abroad, expatriates and […]
Bangladesh Bank (BB) has said that the official price of the dollar will not be market-based ahead of the upcoming parliamentary elections. The central bank has given three reasons behind this decision. He said the country’s three key economic indicators – current account, financial account and revenue account – are showing negative trends. The central […]
According to central bank sources, banks are regularly informing the central bank that remittances are being bought at higher prices. Furthermore, various foreign remittance and exchange house sources have confirmed the acquisition of remittances at prices higher than the announced rates. Officials in the treasury and remittance departments of at least six banks confirmed to […]
Bangladesh Bank (BB) earlier this month fined treasury heads of 10 banks Tk 100,000 each for selling dollars at higher prices. Monday was the last date for depositing the fine. However, officials of the concerned banks have appealed to the Central Bank to review the decision of penalty. The BB Board of Directors headed by […]
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 […]
Sri Lanka has fully repaid the US$200 million loan it took from Bangladesh through a currency swap agreement two years ago to avoid a serious dollar shortage, UNB reports. In the last tranche, Sri Lanka paid about $50 million on the loan and $4.5 million in interest on Thursday night, a senior Bangladesh Bank official […]
Bangladesh Bank (BB) is taking action against 10 banks for selling dollars to importers at a price higher than the declared value. Under this, the Central Bank has started the process of imposing fine on the heads of treasury departments of these banks. In letters sent to these banks on Monday, Bibi said that there […]
He said that many traders have to open letters of credit (LC) to buy dollars at a price higher than the fixed rate, which affects the import of goods. Mehboob said, the BB Governor has been requested not to increase the interest rate of bank loans by a large margin as businesses are already facing […]
According to central bank records, remittances worth Tk 13.09 billion (Tk 1,309 crore) came into the country in the first seven months of this year. This is slightly more than the remittances that came into the country in the first seven months of last year. In the same period last year, remittances worth Tk 12.89 […]
Syed Mahbubur Rahman, managing director of Mutual Trust Bank (MTB), saw a slight improvement in the dollar crisis, but said the crisis was still there. “We still cannot open letters of credit (LCs) as per the demand of the customers. Foreign trade cannot be done as easily as before. Foreign banks do not give loans […]
This situation has arisen due to a decrease in the distribution of soft loans and an increase in the volume of high-interest loans. The pressure has further increased with the commencement of loan payments for the Rooppur Nuclear Power Plant. In addition, there is also the pressure of repayment of loans taken from China and […]
