Foreign Currencies

Forex with banks on the decline

Foreign currencies held by commercial banks in Bangladesh are on the decline due to high demand, indicating growing pressure on the country’s external sector.

5 banks to seek offshore banking deposits at NY campaign

The leading banks will arrange a dinner for expatriate Bangladeshis at New York LaGuardia Airport Marriott

Bangladesh expands offshore banking in hunt for forex

Offshore banking is increasingly becoming a key window for banks in Bangladesh to facilitate investments and international trade by attracting deposits in foreign currencies.

Forex holdings in banks fall in August

Commercial banks witnessed a drop in foreign currencies last month from that in the preceding month mainly due to a sharp fall year-on-year in the inflow of remittance and a relatively small growth in export earnings.

Major currencies getting stronger against taka

Almost all major foreign currencies like the European Union’s euro, British pound sterling, Chinese renminbi, Japanese yen and Indian rupee are following in the footsteps of the US dollar in becoming stronger against the local currency. 

Govt cuts public food imports to save forex

Bangladesh plans to cut public foodgrain imports in the next fiscal year in an effort to save foreign currencies and avoid putting further pressure on the already strained forex reserves. 

A bleak time to draw up budget

In June last year when Finance Minister AHM Mustafa Kamal placed the budget in parliament, inflation had already been creeping up and the foreign currency reserves were on the decline. These two had derailed the full economic recovery from a two-year crisis wrought by the Covid pandemic.

Bangladesh cuts import reliance for lifesaving vaccines

Bangladesh has cut its reliance on the global markets for lifesaving vaccines as a number of local manufacturers are producing quality jabs, saving a significant volume of foreign currencies, industry people say.  

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. 

May 21, 2024
May 21, 2024

Forex with banks on the decline

Foreign currencies held by commercial banks in Bangladesh are on the decline due to high demand, indicating growing pressure on the country’s external sector.

May 18, 2024
May 18, 2024

5 banks to seek offshore banking deposits at NY campaign

The leading banks will arrange a dinner for expatriate Bangladeshis at New York LaGuardia Airport Marriott

May 16, 2024
May 16, 2024

Bangladesh expands offshore banking in hunt for forex

Offshore banking is increasingly becoming a key window for banks in Bangladesh to facilitate investments and international trade by attracting deposits in foreign currencies.

September 25, 2023
September 25, 2023

Forex holdings in banks fall in August

Commercial banks witnessed a drop in foreign currencies last month from that in the preceding month mainly due to a sharp fall year-on-year in the inflow of remittance and a relatively small growth in export earnings.

September 3, 2023
September 3, 2023

Major currencies getting stronger against taka

Almost all major foreign currencies like the European Union’s euro, British pound sterling, Chinese renminbi, Japanese yen and Indian rupee are following in the footsteps of the US dollar in becoming stronger against the local currency. 

June 6, 2023
June 6, 2023

Govt cuts public food imports to save forex

Bangladesh plans to cut public foodgrain imports in the next fiscal year in an effort to save foreign currencies and avoid putting further pressure on the already strained forex reserves. 

May 31, 2023
May 31, 2023

A bleak time to draw up budget

In June last year when Finance Minister AHM Mustafa Kamal placed the budget in parliament, inflation had already been creeping up and the foreign currency reserves were on the decline. These two had derailed the full economic recovery from a two-year crisis wrought by the Covid pandemic.

May 10, 2023
May 10, 2023

Bangladesh cuts import reliance for lifesaving vaccines

Bangladesh has cut its reliance on the global markets for lifesaving vaccines as a number of local manufacturers are producing quality jabs, saving a significant volume of foreign currencies, industry people say.  

May 3, 2023
May 3, 2023

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.