Many traders have to open Letters of credit (LCs) by buying dollars at a higher price than the fixed rate, said Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Mahbubul Alam Monday. "We drew the governor's attention to the dollar market, who gave assurance that everyone will get dollars
Tag: Dollar
The poor, squeezed by 10 trillion dollars in external debts
Bangladesh poised to become trillion-dollar economy by 2040: BCG
BB asks banks to provide Tk 107 per dollar in remittances
Bangladesh Bank has asked banks to provide Tk 107 against per US dollar inward remittance. A remitter will now get Tk 107 per dollar, even if they send remittance directly through banks.Currently, remitters are getting Tk 99.5 per dollar through the banking channel. Remittance flow through banks fell drastically in
COP27: Bangladesh to push for $100b pledged for developing nations
Bangladesh will reiterate its call for early implementation of the pledge to provide US$ 100 billion funds per year to the developing countries as global leaders are preparing for the COP27 next month to take action for achieving collective climate goals set under the Paris Agreement and the Convention, officials
Forex market may be more volatile: Experts for undertaking reforms
Despite Bangladesh Bank's measures to rein in forex spending, the crisis of US dollar drags on without any hint of ending anytime soon, experts say. Recent fall in inward remittances, earnings from exports, and a looming global recession are all signalling that the external account crisis will be prolonged further, they
The dancing dollar and the Bangladesh Bank
MDs of 6 banks served show-cause notices for dollar manipulation
Bangladesh Bank (BB) has issued show cause notices to the managing directors (MDs) of banks for their alleged involvement in dollar manipulation. Besides, investigation is going on against 12 other banks on the same allegation. After the removal of the treasury head of 6 banks, the central bank issued the show- cause
Forex Reserve: Why worry about $40b if $10b looked good in 2010
Economists have expressed concern just after Bangladesh's foreign exchange reserves slipped below $40 billion, even though that should be capable of meeting three months import payments, based on imports for the immediate past fiscal. Such concern was not seen 12 years ago, when Bangladesh's forex reserves were only $10.60 billion in