"There is no chance that the BRICS will replace the US Dollar in International Trade, and any Country that tries should wave goodbye to America"
The dollar jumped to a seven-week high on Friday and was on track to post its best week since September 2022 after a surprisingly strong jobs report for September led traders to cut bets that the Federal Reserve will make further 50-basis-point rate cuts.
The chief executives of at least three private commercial banks told The Daily Star that the BB had verbally allowed them to quote Tk 1 more than the exchange rate to collect US dollars amid the ongoing forex crunch.
Capital machinery imports are recovering slowly as concerns over political uncertainty ease and banks show more willingness to facilitate investments amidst increased liquidity in terms of US dollars and stability in the exchange rate. During the July-January period of this fiscal year (FY), LC openings for capital machinery grew three percent year-on-year to $1,557 million, according to Bangladesh Bank data.
This is nothing more than a poor trick that will eventually produce no real gain.
They sent separate letters to the central bank
The dollar’s uncontested reign is coming to an end, with far-reaching global economic consequences.
The Bangladesh Bank has projected that loan repayments against mid- and long-term foreign credits secured by the private sector might fall by 42.6 per cent in 2023, but the development might not bring about major relief for an economy reeling under the forex crisis.
The US dollar sold by the central bank has surpassed the $12-billion mark in the ongoing fiscal year as it has had to pump the American greenbacks into the market in order to clear import bills.
"There is no chance that the BRICS will replace the US Dollar in International Trade, and any Country that tries should wave goodbye to America"
The dollar jumped to a seven-week high on Friday and was on track to post its best week since September 2022 after a surprisingly strong jobs report for September led traders to cut bets that the Federal Reserve will make further 50-basis-point rate cuts.
The chief executives of at least three private commercial banks told The Daily Star that the BB had verbally allowed them to quote Tk 1 more than the exchange rate to collect US dollars amid the ongoing forex crunch.
Capital machinery imports are recovering slowly as concerns over political uncertainty ease and banks show more willingness to facilitate investments amidst increased liquidity in terms of US dollars and stability in the exchange rate. During the July-January period of this fiscal year (FY), LC openings for capital machinery grew three percent year-on-year to $1,557 million, according to Bangladesh Bank data.
This is nothing more than a poor trick that will eventually produce no real gain.
They sent separate letters to the central bank
The dollar’s uncontested reign is coming to an end, with far-reaching global economic consequences.
The Bangladesh Bank has projected that loan repayments against mid- and long-term foreign credits secured by the private sector might fall by 42.6 per cent in 2023, but the development might not bring about major relief for an economy reeling under the forex crisis.
The US dollar sold by the central bank has surpassed the $12-billion mark in the ongoing fiscal year as it has had to pump the American greenbacks into the market in order to clear import bills.
The taka has lost its value further against the US dollar after the Bangladesh Bank sold the greenback at Tk 104.5 as the foreign exchange reserves keep falling.
