The World Bank has recommended Bangladesh put in place a unified exchange rate and tighten monetary policy further in order to tame persistently high inflationary pressure and end the foreign exchange crisis.

Central bank should read the market, revise rules accordingly to ensure stability

The foreign exchange crisis in Bangladesh has dealt a blow to credit card users as the sharp appreciation of the US dollar against the taka has narrowed their scope for foreign purchases through cards.

With a huge deficit in its financial account balance and foreign exchange reserves depleting, Bangladesh’s main challenge in the coming months will be tackling foreign exchange shocks, said economists yesterday.