The taka strengthened to 121.40 per US dollar on August 10 from 122.30 at the end of July
Upskilling workers, easier migration process can further increase it.
Bangladesh's foreign currency reserves have gone past the $20-billion mark after nearly a month thanks to the currency swap initiated by the central bank.
Pressure on the foreign exchange reserves remains high as the deficit in the financial account continues to widen despite the narrowing trade gap and a current account surplus.
Bangladesh's foreign exchange reserve has fallen by nearly $120 million in the span of a week, central bank data showed.
The government has informed the International Monetary Fund (IMF) that it would not initiate any major reforms to enhance foreign exchange reserves and revenue earnings and reduce subsidies before the upcoming parliamentary elections..However, the government promised that drastic reforms w
The exchange rate volatility and its strain on the foreign currency reserves would not disappear anytime soon after Bangladesh Bank Governor Abdur Rouf Talukder yesterday said a floating US dollar rate would not be materalised before the upcoming national election.
The IMF staff mission is willing to set a lower target for foreign currency reserves for this December and June next year provided the Bangladesh Bank adopts the crawling peg method to manage the exchange rate.
The International Monetary Fund (IMF) yesterday suggested that banks in Bangladesh should quicken the implementation of market-driven exchange rates as it would help alleviate the ongoing foreign currency crisis.
The exchange rate volatility and its strain on the foreign currency reserves would not disappear anytime soon after Bangladesh Bank Governor Abdur Rouf Talukder yesterday said a floating US dollar rate would not be materalised before the upcoming national election.
The IMF staff mission is willing to set a lower target for foreign currency reserves for this December and June next year provided the Bangladesh Bank adopts the crawling peg method to manage the exchange rate.
The International Monetary Fund (IMF) yesterday suggested that banks in Bangladesh should quicken the implementation of market-driven exchange rates as it would help alleviate the ongoing foreign currency crisis.
Bangladesh has requested the visiting International Monetary Fund staff mission to revise down some of the targets as the existing numbers are not achievable in the present context.
The falling foreign exchange reserves and the ever-rising defaulted loans are very concerning for the economy, and the government should respond fast to avoid a looming crisis, eminent economist Prof Rehman Sobhan said yesterday.
Bangladesh’s foreign currency reserves would be less than $18 billion if the central bank's liabilities are considered, according to Zahid Hussain, a former lead economist of the World Bank's Dhaka office..The central bank is regularly publishing its gross foreign reserves in line with the
Bangladesh’s net foreign currency reserves would be less than $18 billion if the central bank’s liabilities are considered, said Zahid Hussain, a former lead economist of the World Bank's Dhaka office, today.
S&P Global Ratings on Tuesday lowered Bangladesh's long-term rating outlook to negative from stable, citing risks the country's external liquidity position could deteriorate in the next year while foreign exchange reserves remain under pressure
After the sudden drop in Bangladesh’s official foreign exchange reserves on July 13, another rude shock awaits: as per IMF conditions, the banking sector’s distressed assets will be published, in what would make for a grim reading about the industry’s health.
The proposition that Bangladesh will move away from the US dollar-based payment settlement to a new international payment settlement is of no economic substance.
