dollar crisis
BB injected $12.79b into banks in FY24
The Bangladesh Bank injected $12.79 billion into banks from its reserves in the just-concluded 2023-24 fiscal year as banks combatted a severe US dollar crisis which hampered import payments.
Why do people stash dollars under pillows?
It's because of the inflation-led pressures on Bangladesh’s taka and the central bank's undervaluation of the US dollar.
Studying Abroad: Students struggle to open profiles for dollar crisis
For over a year now, thousands of Bangladeshi students wanting to study abroad have encountered obstacles while trying to open bank profiles essential for paying their fees or other expenses like housing and transportation
BB goes shopping to private banks for dollar
Bangladesh Bank is hunting for dollars to rebuild its depleting foreign exchange reserves ahead of the January 7 national election.
Why do villagers bear the brunt of loadshedding?
Strangely enough, although the government is unable to meet power needs, it pays thousands of crores to government and private power plants as fixed charges or capacity charges every month with taxpayers’ money.
New fiscal year, old challenges
When a year passes, those who had a good time look forward to continuing the momentum while those who had struggled to keep their head above water might breathe a sigh of relief.
Foreign banks’ forex income soars
The earnings of foreign banks operating in Bangladesh rocketed in 2022 buoyed by their incomes from the dealings of international currencies.
Power companies’ profits fall amid dollar crisis
Profits of all power generation companies dropped in the July-March period of fiscal year 2022-23 and some of them even incurred huge losses mainly due to a huge depreciation of the value of the taka against the US dollar that ultimately increased their costs.
Economic pressure deepens as export, remittance dip
Exports and remittances, two major sources of foreign currencies for Bangladesh, plunged in April, a bad omen for the economy as it deals with multiple challenges, including a dollar crisis, an elevated level of import costs and falling reserves.
After energy, LC opening crisis now cripples businesses
At the beginning of 2022, businesses were upbeat and many of them thought that the worst stemming from the losses induced by the coronavirus pandemic was finally over. That was short-lived.
Exports dip in first half of current fiscal year
Exports of light engineering equipment, including stainless-steel and iron ware, from Bangladesh have decreased in the first six months of the current fiscal year compared to the same period the year before.
Gas, power price hike: Pharma sector fears 25% rise in production cost
Medical treatments are about to get costlier as production cost for manufacturing drugs will go up by at least 25 per cent following a recent hike in gas and power charges, according to manufacturers.
Govt to ask banks for keeping dollar for essentials import: Tipu Munshi
The government will request the banks to keep a portion of dollars reserved to facilitate the import of essential commodities before Ramadan, the fasting month when demand for certain items increases.
Banks no longer opening student files
How the dollar crisis is affecting abroad-bound students.
Firms’ falling profits testify to slowing business, economy
Businesses in Bangladesh went through a tough time in recent months due to a dearer US dollar that pushed up their costs of raw materials and a rocketing fuel bill that contributed to the surge in operating expenses.
Used car import soars despite dollar crisis
Reconditioned car imports surged by more than 75 per cent year-on-year in July-October despite the ongoing economic uncertainty and the government’s efforts aimed at discouraging the purchases of luxury items from external sources, traders say.
Dollar crisis to go by next June
Bangladesh Bank is anticipating the pressure on the balance of payments will blow over by the end of this fiscal year thanks to hearty assistance from development partners –-- an outlook termed wishful by economists.
Five ways the dollar crisis impacts RMG makers in Bangladesh
In recent months, the Bangladeshi taka has plummeted to new depths against the US dollar amid a worsening foreign exchange reserve crisis.
How to resolve the current account crisis?
Bangladesh observed a prohibitive current account deficit of $17.1 billion in the last fiscal year of 2021-22. It, however, averaged $0.32 billion annually over the 12-year period from 2009 to 2021.