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
Tag: Forex market
Forex rate stable as BB tightens grip
Bangladesh Bank's move to curb foreign currency spending has resulted in stability in the market after a jump in hiking exchange rate over the last four months. Through several regulatory measures against some banks and money exchange houses, the volatile forex market is seemingly stable now. Banks' and kerb market's
IMF loan to stabilize forex market, reserve
Bangladesh is expecting around USD $4.5 billion loan from the International Monetary Fund (IMF) as a precautionary measure and stabilising foreign exchange reserves. In the wake of a record $30.86 billion trade deficit, remittance inflow falling by 15.12 per cent and current account deficit of $17.23 billion in the recently concluded