Bangladesh Economy - Financial Daily News Site

Even with floating forex system, taka devalued against US dollar again

Is Bangladesh's current $42bn forex reserve safe enough?

The move has essentially devalued the rate of taka against US dollar again, even with the reinstatement of floating foreign exchange rate. The central bank on Thursday reintroduced the floating foreign exchange for banks to set the US dollar rate based on demand and supply situations. Bangladesh adopted a floating exchange rate system in 2003 … Read more

Is Bangladesh’s current $42bn forex reserve safe enough?

Is Bangladesh's current $42bn forex reserve safe enough?

Policymakers, leading macroeconomists and Bangladesh Bank are saying that the decline of COVID-19 cases was met with a global hike at the prices of commodities as the Russia-Ukraine war caused the production and supply costs to go up. Alongside this, a decline in remittances compared to last year’s inflow has caused concerns. High imports caused … Read more