BB begins forex reporting as per IMF manual
Bangladesh Bank yesterday began publishing foreign currency reserves as per the International Monetary Fund’s BPM6 manual, in a move that will ensure that the country’s dollar stockpile is reported accurately.
13 July 2023, 18:00 PM
A new era dawns in trade with India
Bangladesh, India to begin bilateral trade in rupee from July 11
9 July 2023, 01:00 AM
Higher NPL burden for banking sector
The banking sector is burdened by a high non-performing loan (NPL) and will need to continue measures to beef up supervision and accelerate loan recovery, according to the Bangladesh Bank.
6 July 2023, 18:00 PM
Forex reserve rises past $31b
The country’s foreign exchange reserves rose past $31 billion yesterday after three multilateral lenders provided $925 million to Bangladesh.
26 June 2023, 18:00 PM
Extension of bank directors’ tenure: A huge blow to banking sector
Allowing directors to stay on for 12 years will deal a huge blow to the financial health of banks, which are already facing several crises, including a lack of corporate governance in recent years, say experts.
25 June 2023, 01:00 AM
Tight monetary policy, but is it enough?
On the surface, the monetary policy appears to be tuned to the need of the hour: bring down inflation and conserve reserves. But it comes caving down on careful reading.
19 June 2023, 01:00 AM
Can new monetary policy crush inflation?
The Bangladesh Bank may today raise its key interest rates to tame inflationary pressure but the attempt might go in vain since the monetary authority may not withdraw the interest rate cap on loans in a true sense.
17 June 2023, 18:00 PM
11 banks facing a capital shortfall of Tk 33,575cr
Eleven banks in Bangladesh faced a collective capital shortfall of Tk 33,575 crore in March, up 9.3 per cent from a quarter ago, in a reflection of their worsening financial health caused by persisting irregularities and lack of governance, central bank data showed.
16 June 2023, 02:00 AM
Govt moves away from injecting funds into state banks
The government has no plans to inject capital into state-run banks as it has already taken several initiatives to put an end to this culture, Finance Minister AHM Mustafa Kamal said today.
9 June 2022, 10:03 AM
Taka gains after months
Local currency taka gained in value by Tk 0.50 to Tk 91.5 per US dollar at the interbank platform yesterday after facing a continuous slide in the last couple of months.
9 June 2022, 04:45 AM
Ten banks face capital shortfall of Tk 27,051cr
Ten banks in Bangladesh collectively faced a capital shortfall of Tk 27,051 crore in March, an indication of their fragile health caused by years of irregularities.
9 June 2022, 04:30 AM
Taka rises, 1 USD now Tk 91.5
The local currency today appreciated Tk 0.50 to Tk 91.5 against the US dollar at the interbank platform after facing a consistent slide in the last couple of months.
8 June 2022, 15:05 PM
Taka loses further ground vs dollar
The local currency yesterday depreciated further against the US dollar, hitting Tk 92 for each greenback in the interbank platform.
8 June 2022, 04:30 AM
Govt’s borrowing from banks to go up
The government’s borrowing from the banking system has started to go up mainly due to its lacklustre performance in revenue collection and falling investment in savings certificates.
8 June 2022, 04:00 AM
Banks’ provision shortfall widens
The provisioning scenario of banks in Bangladesh further deteriorated in the first quarter of this year for an increase in default loans, an indication of the banking industry’s health having worsened.
7 June 2022, 04:00 AM
Taka sees steepest fall in 16 years
The local currency saw a big dip in its value over the last two days after Bangladesh Bank floated exchange rates of the taka against the US dollar on June 2.
7 June 2022, 02:00 AM
Default loans surge as relaxed loan policy goes
Default loans in the banking sector surged 19.3 per cent year-on-year in the first quarter of 2022 to reach one of the highest levels in Bangladesh’s history, driven by the withdrawal of the relaxed loan classification policy.
6 June 2022, 04:00 AM
Bangladesh Bank lets taka float against US dollar
In an effort to stabilise the forex market, Bangladesh Bank has decided to allow the exchange rates of the taka to float against the US dollar for the first time in a decade.
3 June 2022, 02:00 AM
Despite $6.07bn injected by Bangladesh Bank in FY22, forex market still unstable
In spite of the injection of $130 million into the market by Bangladesh Bank, volatility persisted in the foreign exchange market yesterday.
2 June 2022, 04:30 AM
Remittance drops in May, piling pressure on forex
Remittance flows to Bangladesh declined 13.15 per cent year-on-year in May as higher rates of US dollars in the informal markets are prompting many migrant workers to shun formal channels, creating additional pressure on the country’s already heated foreign exchange market.
2 June 2022, 04:00 AM
US dollar crunch: Many banks fail to follow BB exchange rates
Amid a US dollar crunch in the domestic market, many banks failed to comply with the exchange rates set by Bangladesh Bank a couple of days ago.
31 May 2022, 18:00 PM
Hike in key interest rate: Case for lifting lending rate cap strengthens
The case for withdrawing the lending rate cap, set in motion more than two years ago, has strengthened after the Bangladesh Bank hiked its key interest rate for the first time in a decade to cool inflationary pressures.
31 May 2022, 04:30 AM
Bangladesh Bank raises policy rate: Aims to contain inflation, stabilise forex market
The Bangladesh Bank yesterday raised its key interest rate for the first time in a decade and devalued the local currency for the seventh time this year against the dollar as part of its moves to tackle inflationary forces and restore stability in the foreign exchange market.
30 May 2022, 03:30 AM
Banks want taka to be devalued by Tk 2
Banks today recommended depreciating the local currency by nearly Tk 2 against the US dollar as they submitted their proposed interbank exchange rates of the taka to the central bank.
29 May 2022, 11:11 AM
Taka may be weakened further
Bangladesh’s national currency may weaken further against the US dollar as the central bank has moved to restore stability in the foreign exchange market.
27 May 2022, 02:00 AM
Fighting inflation, forex crisis: Is hiking policy rate the next tool for BB?
Central banks around the world have commenced hiking policy rates in order to contain the inflationary pressure stemming from the ongoing global supply chain disruption and demand recovery.
24 May 2022, 03:00 AM
Is Bangladesh paying the price of administered forex regime?
The taka faced less depreciation against the US dollar compared to other South Asian currencies in the last one year, eroding the export competitiveness of Bangladesh against its peers.
22 May 2022, 03:00 AM
Forex market volatile
Volatility in the country’s foreign exchange market yesterday intensified further amid scarcity of the greenbacks, forcing travellers to buy a US dollar at up to Tk 102, the highest in Bangladesh, in open markets.
18 May 2022, 02:00 AM