Bangladesh Bank sells dollar at Tk 100 for first time

[Imran Khan]

Bangladesh Bank sells dollar at Tk 100 for first time​

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Star Business Report

Wed Jan 4, 2023 11:23 AM Last update on: Wed Jan 4, 2023 01:00 PM


Pound and US dollar banknotes are seen in this illustration taken January 6, 2020. Photo: Reuters

The dollar selling rate of the Bangladesh Bank went up to Tk 100 for the first time as it sold $78 million greenbacks to banks yesterday to help settle import payments, a central bank official said.
Since the beginning of this fiscal year in July, the central bank has so far injected nearly $7.50 billion into the market, to facilitate the government and businesses to clear their import bills.
The exchange rate of local currency taka against the dollar has been facing acute pressure for almost a year thanks to the higher import payments against slower-than-expected export earnings and remittance inflow during the period.
This forced the central bank to devalue its selling rate of the greenback several times in the last year, which caused the country's foreign exchange reserves to sink from $44.4 billion a year ago.
The reserves stood at $33.7 billion as of Tuesday.

Bangladesh Bank sells dollar at Tk 100 for first time

The dollar selling rate of the Bangladesh Bank went up to Tk 100 for the first time as it sold $78 million greenbacks to banks yesterday to help settle import payments, a central bank official said.

www.thedailystar.net

 

[bluesky]

Dollar sells at Tk120 at the kerb market. With the printing of paper money, the rate may fall to Tk200 to a dollar.

@UKBengali, ask Hasina Bibi to refund the $20 billion she stole. The rate will jump back to Tk80 per dollar.

 

[hydrabadi_arab]

Dollar sells at Tk120 at the kerb market. With the printing of paper money, the rate may fall to Tk200 to a dollar.

@UKBengali, ask Hasina Bibi to refund the $20 billion she stole. The rate will jump back to Tk80 per dollar.

Looks like Hasina is doing Darnomics to buy time. Learn from Pakistan experience, fake dollar peg is disaster. There is still time for BD.

 

[EasyNow]

Dollar sells at Tk120 at the kerb market. With the printing of paper money, the rate may fall to Tk200 to a dollar.

@UKBengali, ask Hasina Bibi to refund the $20 billion she stole. The rate will jump back to Tk80 per dollar.

Thought it was $100b she stole? Your knowledge of current affairs is as bad as your predictions!