Dollar reserve shoots ast 21bn

[TopCat]

But your BB's GM is saying "reserve was boosted by a spurt in remittance flow and decline in import costs"

When he says decline means decline in growth.. thats what they means most of the time that i seen in the past.

 

[idune]

BB counts Tk 5,519cr in losses from dollar, gold reserve

Bangladesh Bank counted Tk 5,519.11 crore in losses from its foreign currency, gold and silver reserve in the past financial year 2012-2013, according to latest BB data.

The BB made a profit of Tk 3,952.27 crore in the FY12 by investing in currencies, gold and silver.

BB officials told New Age on Thursday that the central bank had counted the amount in losses as the local currency taka had appreciated significantly against the dollar, and the price of gold and silver decreased on the local and foreign market.

A BB official said the central bank had invested a major portion of foreign currencies with the US dollar resulting that the BB counted a loss of Tk 3,847.97 crore in the FY13 from a profit figure of Tk 3,173.10 crore in the FY12.The BB record book showed that the central bank had bought a highest amount of dollars worth $4.53 billion in the FY13 since FY05.

BB counts Tk 5,519cr in losses from dollar, gold reserve

 

[TopCat]

BB counts Tk 5,519cr in losses from dollar, gold reserve

Bangladesh Bank counted Tk 5,519.11 crore in losses from its foreign currency, gold and silver reserve in the past financial year 2012-2013, according to latest BB data.

The BB made a profit of Tk 3,952.27 crore in the FY12 by investing in currencies, gold and silver.

BB officials told New Age on Thursday that the central bank had counted the amount in losses as the local currency taka had appreciated significantly against the dollar, and the price of gold and silver decreased on the local and foreign market.

A BB official said the central bank had invested a major portion of foreign currencies with the US dollar resulting that the BB counted a loss of Tk 3,847.97 crore in the FY13 from a profit figure of Tk 3,173.10 crore in the FY12.The BB record book showed that the central bank had bought a highest amount of dollars worth $4.53 billion in the FY13 since FY05.

BB counts Tk 5,519cr in losses from dollar, gold reserve

so they should not had bought the gold?

 

[idune]

Forex reserve crosses $15b mark on BB dollar buying spree
Staff Correspondent

The country’s foreign exchange reserve on Tuesday crossed the $15-billion mark for the first time due mainly to the Bangladesh Bank’s dollar buying spree, slump in imports in the first nine months of this financial year and increased inflow of remittance, said official of the central bank.
A BB official said that the foreign exchange reserve had stood at $15.069 billion on Tuesday from $14.936 billion on Monday.
The BB purchased dollars worth more than $4 billion from the commercial banks in this financial year with a view to stopping devaluation of the greenback against the local currency taka which played a significant role in crossing the $15-billion mark of the foreign exchange reserve, he said.

Forex reserve crosses $15b mark on BB dollar buying spree

 

[eastwatch]

Forex reserve crosses $15b mark on BB dollar buying spree

Why are you sending threee year old news? Today, the FE reserve has crossed $21b already. How do you think of this achievement?

 

[eastwatch]

this is just epic understanding and logic about economy. we just have to wait till infamous "rubbish" FM Muhit get hold of this epic piece.

Muhith is here until the end of this term. This is something you cannot do anything about. Thing is Jamaat is with AL, it does not want its criminal leaders to be hanged. Now, BNP cannot go for an agitation. Jamaat has been bought by AL. I expect it to join the present govt. Your opinion please.

 

[Sulman Badshah]

Good Going Bangladeshi Brothers ....keep it up

 

[extra terrestrial]

Why are you are playing the same broken record again and again. BB's job is not buy and sell dollar from market. You mean BB should had left 8 billion dollar in the hand of commercial bank? Find something new to play my frinend.

But he's actually right about the high interest rates, we have the highest interest rates in South Asia which is discouraging investments. Besides, low imports mean low supply of raw materials. Also, with this amount of reserves, there should have been a lot higher rate of investment which is not happening, amount of lazy assets is increasing day by day.

 

[-1o1-]

$6billion from us count that too made by illegal bangladeshi immigrants in India

 

[narcon]

BD has more FOREX than Pakistan because BD does not buy weapons the same way as Pakistan does.
Pakistan has squandered lot of money on defense on the false premises that India will gobble it up..

 

[UKBengali]

To see detail of the BD economy, check the following wiki link (not 100% accurate though): Economy of Bangladesh - Wikipedia, the free encyclopedia

GDP (nominal) for BD is now: $173bn
Per capita GDP is now: $1180
Exports are approx: $35bn
Imports are approx: $33bn
Remittance is around: $15bn

The consensus amongst most economists are that, exports are going to expand at a much faster rate then imports, the number of workers going abroad will increase only marginally though the remittance will continue to grow. The foreign exchange reserve more then doubled in the last 5 years, and will more then double in the next 5-6 years as the BB continues to buy dollar to keep the taka "affordable" for exporters.

The government most likely will look to improve the ratting to A from BB-, reducing the cost of borrowing further. My predictions for the next 5-6 years (2020) are as follows:

Average GDP growth: 6.5%-7%
Exports: $55bn plus
Imports: $47bn plus
Remittance: $19bn
Reserves: $43bn

It is giving exports and imports for the next financial year that is yet to happen!

I broadly agree with your prediction for GDP growth and think it may be slightly higher at 7-7.5% as long as the politics will stay relatively stable

Since you seem to be quite knowledgeable at economics, do you think that BD may be able to build up sufficient fiscal capacity that from 2020 onwards that it would be in a position to internally finance its infrastructure projects? This will really help economic growth as infrastructure can then be built at a faster rate.

 

[TopCat]

It is giving exports and imports for the next financial year that is yet to happen!

I broadly agree with your prediction for GDP growth and think it may be slightly higher at 7-7.5% as long as the politics will stay relatively stable

Since you seem to be quite knowledgeable at economics, do you think that BD may be able to build up sufficient fiscal capacity that from 2020 onwards that it would be in a position to internally finance its infrastructure projects? This will really help economic growth as infrastructure can then be built at a faster rate.

Finance is not the issue but the capacity is. Just see how Dhaa-Chittagong highway project is going. Padma bridge is entirely financed by BD yet we will see how it goes. Experts are saying they wont be able to finish it in 8 years.

 

[eastwatch]

Does amny one has any suggestions.

Finance is not the issue but the capacity is. Just see how Dhaa-Chittagong highway project is going. Padma bridge is entirely financed by BD yet we will see how it goes. Experts are saying they wont be able to finish it in 8 years.

In that case, the Highway Dept. will float tender, and before that it will seek foreign know how and money. AL govt is a bluff master, it is bluffing the entire nation.