Bangladesh - Financial Daily News Site

New monetary policy to seek balance between credit flow and inflation

New monetary policy to seek balance between credit flow and inflation

These key four issues will be at the forefront of the upcoming monetary policy which will be announced soon, said senior level sources within the central bank after a high-level meeting on Sunday with the bank’s governor Fazle Kabir in the chair in Dhaka. According to traditions, monetary policies for the first half of the … Read more

Is Bangladesh Bank gaming the floating forex system to encourage remittance inflow?

Is Bangladesh Bank gaming the floating forex system to encourage remittance inflow?

On Tuesday, the Bangladesh Bank sold $129 million to local banks at a rate of Tk 92. On Monday, the rate was Tk 91.95. The upping of the US dollar prices has essentially devalued the rate of the taka, even with the reinstatement of the floating foreign exchange rate. The floating foreign exchange rate system, … Read more

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