As the top global currency, the US dollar has enjoyed decades as investors’ cash of choice – but it now faces a growing challenge to that position. The greenback is used in the context of international trade and global finance for almost everything from ordering planes, buying oil or issuing loans. But many developing economies,…
Ahsan H Mansoor, former IMF official and executive director of the Policy Research Institute (PRI), said, “I am assuming that some dollars will come in the next two months. But the government must stop selling dollars altogether to keep reserves within the IMF’s June target. He said that the deficit is not that small and…
Bangladesh Bank (BB) has approved Bangladeshi airlines and shipping companies to open foreign currency accounts, UNB reports. These shipping and airline companies are expanding their services abroad and earning foreign exchange. The central bank said in an announcement on Tuesday that companies can meet essential expenses from these accounts.
Pakistan’s annual LNG imports fell to the lowest level in five years, even as electricity demand surges in 2022 as European buyers crowd out price-sensitive consumers. “We have some of the most efficient regasified LNG-based power plants in the world. But we don’t have the gas to run them,” Dastgir said in an interview. He…
“It is clear that the effects of COVID-19 are still being felt by many businesses across key industries in Bangladesh, effectively disrupting their operational capacity,” Alan Forlemu, Regional Industry Director, Financial Institutions Group , said the IFC. “This funding package has been specifically designed to help ensure that businesses in Bangladesh can continue to trade…
The main beneficiaries of this money laundering are corrupt bureaucrats, engineers, military officers, unscrupulous politicians, businessmen and bank borrowers. CID says that the lion’s share of 750 billion taka belongs to this circle. If the policy of ‘zero tolerance’ remains ineffective, it will be impossible to solve the problem of money laundering. No matter how…
The dollar index slipped 0.1 percent, extending its previous session’s losses and rising in an index of emerging market currencies. 0.7 percent higher. EM currencies recovered 3.6 percent in November after five consecutive months of losses, posting their best monthly performance since March 2016. MSCI’s index for emerging market shares rose 0.8 per cent, capping…
Dollar crisis will end next month: Salman F Rahman