PM Hasina stresses diversification of tea to earn more foreign exchange
After a lot of trials, tests and moves, Bangladesh Bank finally accepted the IMF's conditions and adopted a new foreign exchange system. The crawling peg is not completely market-based. The dollar will remain at a moderate rate, like currently 117 taka. The exchange rate will remain around this. It is not that this will solve […]
Fitch Ratings downgraded Bangladesh's long-term foreign currency issuer default rating to 'B+' from 'BB-' in a report on Monday. The downgrade to 'B+' reflects the continued weakening of Bangladesh's external buffers, which may prove challenging to substantially reverse despite recent policy reforms, leaving the country more vulnerable to external shocks. Policy action since early 2022 […]
Fitch Ratings downgraded Bangladesh's long-term foreign currency issuer default rating to 'B+' from 'BB-' in a report on Monday. The downgrade to 'B+' reflects the continued weakening of Bangladesh's external buffers, which may prove challenging to substantially reverse despite recent policy reforms, leaving the country more vulnerable to external shocks. Policy action since early 2022 […]
February 4, 2016 presented the much-anticipated opportunity. As dusk fell, the concerned BB officer closed the SWIFT terminal. Three hours later, the hackers entered the terminal and sent a total of 35 requests to the Federal Reserve Bank in New York to release a total of US$951 million. This was unusual, as Bangladesh usually requests […]