The fall in reserves has stopped, the dollar market is stable

Jumbangla Desk: The country's reserve situation has improved slightly due to the increase in the flow of expatriate income. After the political change, expatriates have been sending more income through legal channels since last August. There has been good growth in this sector. At th

Jumbangla Desk: The country's reserve situation has improved slightly due to the increase in the flow of expatriate income. After the political change, expatriates have been sending more income through legal channels since last August. There has been good growth in this sector. At the same time, there is some relief in the external sector as a result of reduced import costs and increased foreign debt commitments. All in all, some kind of stability has returned to the exchange rate, said people associated with the financial sector.


After the start of the Russia-Ukraine war in February 2022, fuel, food prices and transport costs increased in the global market. This increases the cost of imports in Bangladesh, and the dollar crisis begins. Almost all the country's financial indicators turned upside down due to this dollar crisis. Business is also severely affected. Bangladesh Bank started selling dollars from foreign currency reserves to deal with the crisis. This reduced the once $46 billion reserve by almost half. At one stage the real or usable reserves were reduced to 13 billion dollars.

After the fall of the Awami League government in a student uprising, there was a change in the leadership of the Central Bank. Expatriate income continues to increase. Imports also decreased slightly. The foreign exchange market started to stabilize. The decline in foreign exchange reserves has stopped as the sale of dollars from reserves has stopped altogether. The dollar is now being sold at the rate of Tk 120 in the bank and Tk 122 in the open market. However, even though inflation has come down according to government statistics, chicken, eggs and all kinds of vegetables are being sold at high prices. It has increased people's suffering.


Monirul Islam

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