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 December 4, 2023

Remittance inflow climbs 21% in November

Migrant workers sent home $1.93 billion in November, an increase of 21 percent year-on-year, as banks offer a higher rate for the US dollar to collect remittance. The remittance inflow was $1.59 billion in the same month last year. November’s receipts, however, were 2.42 percent down from a month ago. In order to tide over the foreign exchange shortage and settle import bills, banks have raised the buying rate of the US dollars. Some banks are offering at least Tk 5 to Tk 6 per dollar more than the permitted rate fixed by the Bangladesh Foreign Exchange Dealers Association (BAFEDA) and the Association of Bankers Bangladesh (ABB). More than 11.35 lakh Bangladeshis left the country for jobs abroad last year, nearly double the 6.17 lakh migrant workers who flew to other countries the previous year.

Source: https://www.thedailystar.net/business/news/remittance-inflow-climbs-21-november-3484841

Private credits grow despite banks’ liquidity hardship

Private-sector-credit flow grows marginally, as per latest account up to October, in a reversal of previous low ebb amid liquidity crunch. Pre-election credit rescheduling to meet prerequisite for averting loan default and resultant nomination rejection and dry-season demand are seen among the spurs that helped in turning the corner. After months of downward trend, private-sector-credit growth went up by 0.40 percentage points to 10.09 per cent in October last by official count, notwithstanding prevailing liquidity stress in the banking sector. In the previous month of September, the credit growth for private- sector players in the national economy was 9.69 per cent. Officials, bankers and economists term such turnaround in the demand for formal credits by the private entrepreneurs ‘unusual’, especially as the development comes ahead of the 12th parliamentary election when the commercial banks generally practice cautious or non-aggressive banking operations to avert possible buildup of non-performing loans (NPLs). The private-credit growth further plummeted in the subsequent months, with figures of 12.14 per cent in February, 12.03 per cent in March, 11.28 per cent in April, 11.10 per cent in May, 10.57 per cent in June, 9.82 per cent in July, 9.75 per cent in August and 9.69 per cent in September.

Source: https://today.thefinancialexpress.com.bd/first-page/private-credits-grow-despite-banks-liquidity-hardship-1701625590

 Treasury bill interest rate tops 11%

The interest rate for treasury bills that the government uses for short-term borrowing from the banking sector has hit 11%, a growth of 50 basis points in a week. A private bank official attributed the rise to growing demand for bank loans among state authorities. On Sunday, the government borrowed Tk4,218 crore at 10.8% interest rate for 91 days, Tk501 crore at 11% rate for 182 days, and Tk422 crore at 11.20% rate for 364 days, as per central bank data. In the previous auction on 26 November, interest rate for 182-day treasury bills was fixed at 10.50%. Notably, banks can charge maximum 11.22% interest from private borrowers, but some issues including the risk of default forces banks to settle for lower rates.

Source: https://www.tbsnews.net/economy/treasury-bill-interest-rate-tops-11-751110

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 36,245.50
↑ 294.61↑ 0.82 %
FTSE100$ 7,529.35↑ 75.60↑ 1.01 %
Nikkei 225$ 33,219.75↓ 211.76↓ 0.63 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 73.56↓ 0.51 ↓ 0.69 %
Crude Oil (Brent)$ 78.30 ↓ 0.58↓ 0.74 %
Gold Spot$ 2,084.59↑ 12.37↑ 0.60 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 110.5000
BDT 110.5000

*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