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The dollar rises to 120 rupees in the open market

Black_cats

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No, as far as I know, the payment was $1.9 billion in the 2019-20 period that I have read myself. The more the borrowing gets matured the more BD has to pay. This year it is $2.5 billion.

And the repayment is in between $4 to $5 billion from 2024-2025 FY. BAL govt has ruined the future industrialization efforts because the country will be repaying money that should have been used to industrialize.

Do not you see there is no money and the govt has prayed for an IMF bailout? So, do not please expect the creation of any new money anymore. All money will be spent to service the debts and no money to industrialize.

No industrialization means no development. Even domestic borrowing is equivalent to US$78 billion.

Provide source instead of your made up imaginary claim. I have provided you news article. Make it a practice.

 

SoulSpokesman

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@bluesky

Come 2024, BD will be paying $4 to $5 billion to repay the loans.

Few countries, if any, actually repay the Principal amount. Prudent countries invariably pay interest from revenues.

BD need not repay the USD 4-5 billion you are estimating- they could easily get fresh borrowings to repay that. As do most countries in the world.

As long as your govt revenues are higher than the interest on the loans, it is more or less fine.

Regards
 

bluesky

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Soon it will be 150.

should order pop corn and enjoy the shit show lol
Many BAL cronies earned/ stolen money in the country and now are buying dollars in the kerb market in the hope Taka will fall to 150 someday.

Many again want to take dollars to their Dear New Homeland just before the election. Both the cases caused the Taka to fall.
 

bluesky

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@bluesky

Come 2024, BD will be paying $4 to $5 billion to repay the loans.

Few countries, if any, actually repay the Principal amount. Prudent countries invariably pay interest from revenues.

BD need not repay the USD 4-5 billion you are estimating- they could easily get fresh borrowings to repay that. As do most countries in the world.

As long as your govt revenues are higher than the interest on the loans, it is more or less fine.

Regards
I think the payment method is specifically stipulated in the Agreement paper between Lender and borrower. Money is not free coming down from the sky. What you said is certainly not normal.

It is applicable to only the interest-taking Mahajan in our three countries on a private level which is not applicable to international borrowing.

Your notion is, "Hamein Rupiya nahin Chahiye, Hamein Rupiya ka Baccha Chahiye". It is absolutely not applicable at the international level.
 

SoulSpokesman

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@bluesky

Neel Akash Dada,

It is applicable to only the interest-taking Mahajan in our three countries on a private level which is not applicable to international borrowing.

I hope you dont mind if I ask you a question. Have your worked as an economics or finance professional anytime in your life?

Regards
 

BananaRepublicUK

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@bluesky

Neel Akash Dada,

It is applicable to only the interest-taking Mahajan in our three countries on a private level which is not applicable to international borrowing.

I hope you dont mind if I ask you a question. Have your worked as an economics or finance professional anytime in your life?

Regards

He is a self confessed construction worker.

And does not posses an under graduate degree from a reputed U.K./US university.

Source of his knowledge is YouTube videos made by cranks and Hinduvta trolls.

He thinks “kerb market” reflects or correlates to official rate!

The buffoon cannot understand that the more squeeze a government places on criminality the harder it is to whiten money via the kerb market.

Kerb market is there to serve criminals - hence the rate is poor given the cut taken by police and syndicates.

Legitimate businesses use BB and are rewarded with a significantly better rate. Hence that’s the only rate that matters.

I have no interest in the poor rates that criminals are getting.
 

pikkuboss

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He is a self confessed construction worker.

And does not posses an under graduate degree from a reputed U.K./US university.

Source of his knowledge is YouTube videos made by cranks and Hinduvta trolls.

He thinks “kerb market” reflects or correlates to official rate!

The buffoon cannot understand that the more squeeze a government places on criminality the harder it is to whiten money via the kerb market.

Kerb market is there to serve criminals - hence the rate is poor given the cut taken by police and syndicates.

Legitimate businesses use BB and are rewarded with a significantly better rate. Hence that’s the only rate that matters.

I have no interest in the poor rates that criminals are getting.
From what I understood Taka is similar to Iranian rial or Russian ruble. Different people or institutions trade Taka at different rates for different purposes. Taka current rate is between 95 to 120. Nobody, not even Central Bank of Bangladesh, knows what the actual rate is.
 

bluesky

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Nobody, not even Central Bank of Bangladesh, knows what the actual rate is.
I have posted a chart in a thread whereby the Bangladesh Bank refers to kerb rate at 119.9 Taka per dollar. So,

120taka to a dollar is the actual rate. Make it official and within a few months, FDI guys will be flocking to Bd shore and building factories and the country starts industrial production.

Or, they will wait until Taka falls permanently to 150 to 1? I will not be surprised.
 

pikkuboss

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I have posted a chart in a thread whereby the Bangladesh Bank refers to kerb rate at 119.9 Taka per dollar. So,

120taka to a dollar is the actual rate. Make it official and within a few months, FDI guys will be flocking to Bd shore and building factories and the country starts industrial production.

Or, they will wait until Taka falls permanently to 150 to 1? I will not be surprised.
So, Govt controlled rate is 95 and Karb rate is 120. What is the natural value? It will be somewhere in between. Of course we wouldn't know this unless govt frees the hands of central bank of Bangladesh and let it work as an independent institution.

Here in India, govt doesn't interfere in exchange rates, instead Reserve bank of India with consultation of sitting govt infuses dollars to stabilize the rates to save it from freefall, but doesn't control it and repurchase dollar timely to maintain reserves. This is a general practice all over the world.
 

mmr

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Many BAL cronies earned/ stolen money in the country and now are buying dollars in the kerb market in the hope Taka will fall to 150 someday.

Many again want to take dollars to their Dear New Homeland just before the election. Both the cases caused the Taka to fall.
Only poor students and patients are suffering.

Rich bd business ppl don’t do money laundering through open market. They do through trade. So hoping this kerb market will only hurt criminals is day dreaming.

I mentioned it last month ppl who are smart and big exporters not going to bring 100 percent proceed back home. It’s better they keep it in US dollar in a foreign back when take become more worthless. That’s why you will see dollar crisis will only get worse. Add that to falling export and raising import and more remittances through unofficial channels.
 

Nergal

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He is a self confessed construction worker.

And does not posses an under graduate degree from a reputed U.K./US university.
Are you and arrogant elitist? What's the problem if anyone is construction worker and doesn't posses an under graduate degree from a reputed U.K/US university?

Are non elitist less than human being? How many of our politicians have good quality of education?

There is a term named self educated person , and anyone can become a self educated person, isn't it?
 

bluesky

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So, Govt controlled rate is 95 and Karb rate is 120. What is the natural value? It will be somewhere in between.
The govt. rate of 95 is applicable for payment of imports, for example. But, a private person almost always visits a kerb/ roadside shop to sell or purchase dollars.

So, the kerb price is more in tune with reality.
 

Black_cats

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The govt. rate of 95 is applicable for payment of imports, for example. But, a private person almost always visits a kerb/ roadside shop to sell or purchase dollars.

So, the kerb price is more in tune with reality.

Normal person doesn’t go to kerb market to purchase always as bank is always cheap place to buy. Kerb market is used mostly for hundi purpose so they are willing to pay a premium who sales there. Update your knowledge before posting here.

From what I understood Taka is similar to Iranian rial or Russian ruble. Different people or institutions trade Taka at different rates for different purposes. Taka current rate is between 95 to 120. Nobody, not even Central Bank of Bangladesh, knows what the actual rate is.
A syndicate has created artificial crisis at the kerb market that’s why price is high but things will be stabilized within months as dollar supply is increasing due to equalizing of export and import, lower fuel consumption plus remittance money. Plus chances of more usd injection into the economy due to IMF loan.
 

Rushd Alam

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A good evaluation of the devalued BD Taka. Expect more devaluation if it is finally proved that the current FE deposits amount to only $22 billion or less, and the BAL govt led by Hasina has been lying all along.
Taka was never left on market forces, Bangladesh Bank always controlled dollar. They have always cashed dollar to open market to stabilise dollar prices. Due to pressure of balance of payment they do not have the same capacity to spend reserve on stabilising the market.

Indian central bank has recently spent dollars from reserve to stabilise as they had a big reserve. One of the reason government borrowing from IMF is so it can increase dollar reserve and release some dollar in the market to control the shortage in the market.

Under no circumstance BB should make the same mistake as pakistan did as this will create huge chaos.

Things are going better now in oil market so soon we may see a rise in the reserve, another good news is we have seen a huge rise in Manpower export that will also be a big source of dollars soon.

Hopefully the government can learn a lesson from this about better financial management, as till now it was riding on the success of hardworking people then put us in trouble by mismanagement. Lucky that we had a big reserve to spent during bad times. But soon new big challenges are coming and they way things are managed we may not survive the next time.
 

Black_cats

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Dollar price drops by Tk8 in kerb market

ECONOMY

TBS Report
14 August, 2022, 07:05 pm
Last modified: 14 August, 2022, 07:55 pm

1660491272199.jpeg


The price of dollars has dropped by Tk8 in the open market, thanks to various government measures to control the US greenback rate.

On Sunday (14 August), money exchangers were selling a dollar at Tk112 which soared up to Tk120 three days ago on Thursday.

Industry insiders said that measures taken by the government, such as the Bangladesh Bank's raid, reduction in LC settlements and the central bank's latest move to allow banks to sell dollars at the branch level, have contributed in decreasing the rate.

 

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