Dhaka | Dhaka City | Bangladeshi News
Dhaka | Dhaka City | Bangladeshi News
According to Bangladesh Bank, the country received remittances worth US$900 million in the first 12 days of this month. Under the crawling peg method, the price of the dollar has been increased to 117 taka per dollar. Officials are expecting an increase in foreign income inflows as a result of this initiative. Moreover, he believes […]
Bangladesh Bank spokesperson Mezbaul Haq attributed the decline in reserves to payment of import bills for the past two months. Looking ahead, the spokesperson noted the disbursement of the IMF loan tranche next month and the estimated receipt of more than $2 billion from migrants this month. This will increase the flow of dollars and […]
As updated by the Finance Ministry, lenders provided a total of US$ 1.77 billion in FY 2022-23. The highest amount received as budget support was US$ 2.6 billion in FY 2021-22, up from US$ 1.09 billion in the previous fiscal year and US$ 1 billion in FY 2019-20. In the last fiscal year, Bangladesh has […]
According to Bangladesh Bank’s weekly report, foreign exchange reserves stood at $25.09 billion on January 31, down by $140 million from the previous week. If the reserves are calculated according to the BPM6 methodology of the International Monetary Fund (IMF), then this figure reduces to $ 19.44 billion. Current foreign exchange reserves are below the […]
At present banks are not opening LC for import of commercial food items without advance dollar arrangement. As a result, imports of these goods have fallen. Also, along with commercial banks, the central bank is providing dollars from reserves for the import of essential goods. Imports of essential goods are thus being kept at normal […]
According to Section 7(a) of the Bangladesh Bank Order 1972, the Bangladesh Bank is entrusted with the task of holding and managing the official foreign reserves of Bangladesh. Foreign reserves serve as gatekeepers to repaying various countries’ import liabilities, and, as per the international standard, a country must have at least one foreign reserve that […]
Sources say that following Bangladesh’s request, the IMF may fresh fix the net reserves at USD 20 billion (USD 2000 crore), down from USD 18 billion (USD 1800 crore) at present. Under the loan terms, the IMF had set a reserve target of US$26.81 billion (US$2,681 crore) by June next year. This means the target […]
Bangladesh Bank (BB) has said that the official price of the dollar will not be market-based ahead of the upcoming parliamentary elections. The central bank has given three reasons behind this decision. He said the country’s three key economic indicators – current account, financial account and revenue account – are showing negative trends. The central […]
Prime Minister Sheikh Hasina has criticized individuals who criticize her government and the handling of foreign exchange reserves and warned that if they talk too much she will stop everything and see the consequences. She said, “If you talk too much, I will stop everything. If I return to power after the elections, I will […]
Despite various efforts, including curbing imports, Bangladesh Bank’s foreign exchange reserves continue to decline and cannot be controlled. The net foreign exchange reserves of Bangladesh Bank were more than US$ 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 […]
Bangladesh’s reserves have now become a matter of concern for everyone and according to indications from the IMF and other international agencies, it is feared that the reserves will fall to $20 billion by the end of the year. There has also been a decline in economic growth, resulting in a decline in bank deposits. […]
The country’s foreign exchange reserves declined from $30.98 billion to $29.8 billion on Monday after paying $1.18 billion to the ACU. The country’s reserves swelled during the time of the COVID-19 pandemic as migrant workers started remitting their income through legal channels. As a result, the reserves reached a record $48 billion in August 2021. […]
