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TT-Clean: BDT 98.0956| BC-Selling: BDT 102.747
OD-Sight: BDT 97.8095

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TT-Clean: BDT 109.7982| BC-Selling: BDT 114.0794
OD-Sight: BDT 109.478

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Rate Last Updated: Nov 18, 2020 10:27:06 AM

Daily Business News Flash December 27, 2023

Remittances surge 22% in Dec’s first 22 days

Remittance inflows surged around 22% year-on-year in the first 22 days of December, thanks to some flexibility in the dollar rate permitted by the Bangladesh Bank. According to central bank data, banks received remittances of $1.57 billion in the first 22 days of this month, compared to $1.29 billion received in the corresponding period of December last year. Bankers expect remittance inflows will exceed $2 billion by the end of December if the trend so far this month continues. They have attributed the hike in remittance inflow to favourable exchange rate – up to Tk122 for a dollar. The total remittance inflow in the current financial year has decreased by about 4.19% year-on-year. From July to 22 December of the current financial year, remittances have reached $9.66 billion, compared to over $10 billion that came in during the same period last fiscal year.

Source: https://www.tbsnews.net/economy/remittances-surge-22-decs-first-22-days-764794

Pran-RFL to start producing essential goods by March

Pran-RFL Group, a leading food processor and conglomerate in Bangladesh, plans to produce flour, refined flour and semolina for consumers in their factories by March next year. The group is investing about Tk 1,500 crore to produce these essential products and will employ about 2,000 people, said a top official of the group. At present, the group offers a diverse range of 6,500 products under 200 brands. Bangladesh is expected to be the ninth-largest consumer market globally by 2030, leaving behind the United Kingdom and Germany, according to a report by HSBC Global Research in 2022.

Source: https://www.thedailystar.net/business/economy/news/pran-rfl-start-producing-essential-goods-march-3502981

Mr. Kazi Md. Talha new AMD of Padma Bank

Mr. Kazi Md. Talha has joined the Padma Bank Limited as its Additional Managing Director (AMD). Prior to joining the bank, he served as the Additional Managing Director & Chief Executive Officer of Islamic Banking Window at NRBC Bank PLC, where he demonstrated exceptional leadership and played a pivotal role in the organisation’s success.

Source: https://today.thefinancialexpress.com.bd/trade-market/kazi-md-talha-new-amd-of-padma-bank-1703605311

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 37,545.33
↑ 159.36↑ 0.43 %
FTSE100$ 7,697.51↑ 2.78 ↑ 0.04 %
Nikkei 225$ 33,694.51↑ 388.66↑ 1.17 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 75.47↓ 0.10↓ 0.13 %
Crude Oil (Brent)$ 81.07↑ 0.00↑ 0.00 %
Gold Spot$ 2,064.83↓ 2.98↓ 0.14 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
CurrencyLowestHighest
USD 1BDT 110.0000
BDT 110.0000

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

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