TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK


TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

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Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash April 19, 2022

Central bank sets deposit rate at 7%, lending rate 11% for NBFIs

The central bank has set interest rates on deposit collection at 7% and loans at 11% for the country’s non-banking financial institutions (NBFI). These interest rates will be effective from 1 July this year, according to a Bangladesh Bank circular issued to the commercial banks’ chief executives and managing directors on Monday.The circular further said from 1 July 2022, interest rates on any types of deposits and loans cannot exceed the prescribed rates. However, the interest rate on deposits taken by the customers earlier will remain the same till the term of those debts expire. Some well-positioned financial institutions are already collecting deposits at 6-7% rate, but it will be difficult for most financial institutions to collect deposits at 7% as they need more.Banks have many income opportunities other than interest on loans, which the non-banking financial institutions do not have. We will apply to the central bank to fix the interest rates on deposits and loans at 8% and 12% respectively

Source: https://www.tbsnews.net/economy/banking/bb-fixes-7-interest-deposits-11-loans-nbfis-405362

Gold price climbs to 1-month high

Gold prices jumped about 1 per cent to a more than one-month high on Monday as concerns over the economic fallout from the Russia-Ukraine war and surging inflation drove investors to the safe-haven asset. Spot gold was trading at $1,993.28 per ounce as of 0947 GMT, its highest level since March 11. US gold futures jumped 1.2 per cent to $1,997.70 per ounce.From a technical perspective, spot gold may face little resistance once it goes north of $2,000. However, gold’s ability to keep its head above $2000 may be strained once real yields break into positive territory.

Source: https://www.thedailystar.net/business/economy/news/gold-climbs-1-month-high-3007476

DSE’s key index plunges below 6,500 points

Dhaka stocks underwent a massive erosion yesterday, with a dearth of buyers and panicked investors pressing for sales pulling the index below 6,500 points again after one and a half months.The Bangladesh Securities and Exchange Commission (BSEC) launched a circuit breaker last month to activate in case of a 2 per cent share price drop, all to prevent the market from going on a free fall.The market is driven by stocks that fall victim to manipulation, so stocks with good performance records were bearish over the past couple of weeks, hurting thoughtful investors. The DSEX, the benchmark index of the DSE, plunged 72 points, or 1.10 per cent, to 6,482 at the end of the day. This is lowest point to be reached since March 8, when the index dropped to 6,474 points.Chittagong Stock Exchange also fell yesterday. The CASPI, the main index of the CSE, plummeted 172 points, or 0.89 per cent, to close the day at 19,130.

Source: https://www.thedailystar.net/business/economy/stock/news/dses-key-index-plunges-below-6500-points-3007501

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,411.69
FTSE100$ 7,616.38↑35.58↑0.47 %
Nikkei 225$ 26,830.82↑31.11↑0.12 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 108.62↑0.41↑0.38%
Crude Oil (Brent)$ 113.90↑0.74↑0.65%
Gold Spot$ 1,978.02↓0.89↓0.05 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 86.2000
GBP 1BDT 112.5944
EUR 1BDT 93.1822

*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<

* Exchange Rates are taken from BB website, as on latest update.<




Dear Valued Patrons,

At the very onset, let me express my heartiest gratitude for allowing us to serve you and I also wanted to reach out to you directly with an assurance that Dhaka Bank is fully equipped to support you during this difficult time.

Last couple of weeks ago we all were living in a peaceful condition, performing our daily tasks freely and perfectly. Entire economy and business environment was also in a good shape, until COVID-19 put a forceful stoppage to the overall life style and economy of the world. We all know that social distancing and cleanliness are the keys to prevent this pandemic. Hence, we urge your conscious effort to limiting public interaction and suspending wherever possible.

In this current situation, Dhaka Bank and its employees are beside you where we are fully online, either working from home or at our offices under a robust Business Continuity Plan (BCP) to serve you with limited branch banking and a full-fledged alternate delivery channel services.

Our state of the art Mobile App, Dhaka Bank GO (Click https://bit.ly/2WVfieu) and Internet Banking - Dhaka Bank Direct gives you the freedom of banking online anytime from anywhere. You can check the balance and transfer money to any designated Banks including any Dhaka Bank or bKash Account, make utility bill payments and mobile top-up through our Mobile App and Internet Banking Services. Our ATMs are also running efficiently with availability of sufficient cash for your convenience where you can make cash withdrawals whenever the need arises. Mentionable, the withdrawal of cash from any ATMs within Bangladesh with Dhaka Bank Debit Cards are absolutely free of charges up till April 30, 2020 (Dhaka Bank will bear the cost). Our corporate customers can also use our completely safe and secured online platform Dhaka Bank C-Solution for Payments, Inter Bank Fund Transfers, etc.

Moreover, to fulfill your urgent requirement, we have a limited no. of branches up and running by ensuring all kinds of precautionary and safety measures for you.

In case of extreme emergency and facing difficulties in conducting banking transactions, please let us know through our 24/7 Contact Center number 16474 (or, dial +8809678016474 for ISD/Overseas Calls). We are always with you to combat your difficulties.

As you know we are going through a critical phase and the situation is novel to all of us. We are getting lot of new information from various sources everyday about COVID-19 which will be shared at www.dhakabankltd.com.

Thank you for your trust and continued support to us. I firmly believe that jointly we will be able to combat this situation and win against all the odds.

Please stay home, stay safe and take care of yourself and family.

Best regards,

Emranul Huq
Managing Director & CEO
Dhaka Bank Limited