US dollar
Dollar jumps to seven-week high
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.
Banks sell dollar at more than Tk 118 as pressure mounts
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 on the mend
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.
Opinion / The farce of expressing PCI in taka
This is nothing more than a poor trick that will eventually produce no real gain.
US Dollar Manipulation / Treasury heads of 10 banks seek penalty waiver
They sent separate letters to the central bank
The real cost of de-dollarisation
The dollar’s uncontested reign is coming to an end, with far-reaching global economic consequences.
Private sector’s foreign loan repayment to drop 42% in 2023
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.
BB’s dollar sales this FY go past $12b
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.
Taka keeps falling, forex reserves slip below $31b
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.
Dollar crisis hurts pesticide imports, may hit crop output
Crop protection chemical sellers in Bangladesh are facing difficulty in opening letters of credit amid banks’ lack of interest owing to the crunch of the US dollar.
Bangladesh Bank sells US dollar at Tk 101 for first time
Bangladesh Bank has sold US dollar at Tk 101 each to banks for the first time, giving indication that it is likely to devalue the local currency to reflect the market reality.
Let taka depreciate further: economists
As the US dollar shortage persists, businesses in Bangladesh are increasingly finding it difficult to open letters of credit (LCs) since banks can’t supply the adequate American greenback needed to finance imports.
Govt should restore discipline in banking sector: FBCCI president
The government should restore discipline in the banking sector as some banks made abnormal profits by selling US dollars cashing in on the exchange rate volatility, FBCCI President Md Jashim Uddin said today.
Oil prices settle up; China demand hopes outweigh recession worry
Oil prices settled up on Friday as hopes of stronger Chinese demand and a weakening US dollar outweighed concern about a global economic downturn and the impact of interest rate rises on fuel use.
Govt’s foreign loans: Weak taka makes repayment costlier
The government’s foreign debt repayment has become costlier owing to the sharp depreciation of the taka against the US dollar in recent months.
Three ways a strong dollar impacts emerging markets
The US dollar is on a tear, strengthening around 11 per cent since the start of the year and – for the first time in two decades – reaching parity with the Euro.
Businesses for using multiple currencies
Bangladesh should cut its over-reliance on the US dollar and increase the use of other currencies such as the Chinese renminbi (RMB) in international trade to ease pressure in the foreign currency market, businesses said.
How dollar became global reserve currency
The Second World War changed almost everything in the world. Or in short, we can also say that after WWII, the world changed in a way it had not changed for many years.
Bangladesh Bank toughens rules further to curb imports
In an effort to keep the foreign exchange reserves stable, the Bangladesh Bank yesterday asked banks to take up to 100 per cent of import payments in advances from businesses while opening letters of credit (LCs) for luxury and non-essential items.