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.
Requesting IMF loan doesn’t mean anything is wrong with economy: Finance Minister
Confirming Bangladesh’s request for a loan from International Monetary Fund (IMF) Finance Minister AHM Mustafa Kamal has said that it does not mean the country's economy is in bad shape.
Bangladesh Bank decides to allow floating exchange rate for dollar
The Bangladesh Bank today decided not to fix the exchange rate of the US dollars, allowing the market to set the price based on demand and supply.
Forex volatility: Bangladesh Bank to sit with bankers' group tomorrow
The Bangladesh Bank will sit with the Association of Bankers, Bangladesh (ABB) tomorrow to discuss the ongoing foreign exchange volatility in the country's banking sector.