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 February 12, 2023

BB injects $330m into market since IMF loan

The Bangladesh Bank has injected $330 million into the country’s foreign exchange market since February 1 when the International Monetary Fund disbursed $476.27 million to Bangladesh as the first installment of a $4.7 billion loan. The Washington-based lender approved the loan in January under the extended credit facility (ECF) and the extended fund facility (EFF) to help the country defuse the ongoing volatility in its foreign exchange market. Although the IMF has suggested Bangladesh reduce the frequent injection of US dollars into the market, the central bank has not followed the recommendation yet, said Ahsan H Mansur, executive director of the Policy Research Institute. Between July 1 and February 9, the central bank supplied a record $9.44 billion to the market, according to data from the BB. After the disbursement of the first tranche of the loan, the reserves stood at $32.69 billion on February 2, but the volume fell to around $32.6 billion yesterday owing to the continuous dollar injection into the market. The reserve was $45.39 billion on February 9 last year. The IMF support came as Bangladesh continues to face an exchange rate instability fuelled by a US dollar shortage caused by the fast depletion of the reserves amid escalated import payments against lower-than-expected export and remittance receipts.

Source: https://www.thedailystar.net/business/economy/banks/news/bb-injects-330m-market-imf-loan-3243936

Saudi businesses keen to invest in Bangladesh

The businesses of Saudi Arabia is very much interested to invest in Bangladesh as a high-profile delegation of the Kingdom, led by Crown Prince of Saudi Arabia Muhammad bin Salman Al-Saud, would take part in the Bangladesh Business Summit in March next. The Ambassador of Saudi Arabia to Bangladesh Issa bin Youssef Al-Dahilan said this when he met Commerce Minister Tipu Munshi at his secretariat office in Dhaka on Thursday. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will organise the Bangladesh Business Summit 2023 in March, reports BSS. Terming Saudi Arabia as a friendly nation of Bangladesh, the Saudi Ambassador said that his country attaches higher priority to its relations with Bangladesh in the areas of investment and bilateral trade. Youssef said that the Saudi delegation would take part in the Bangladesh Business Summit to invest. In response, the commerce minister said that Saudi Arabia is a big and long-standing development partner of Bangladesh while Bangladeshi RMG, bakery items, vegetables, juice, and jute-made goods are being exported to Saudi Arabia. Besides, he said Bangladesh imports petroleum oil, petroleum gas, fertiliser, dates and other products from the Kingdom. Tipu informed that in the last fiscal year (FY22), Bangladesh exported goods worth $290.64 million to Saudi Arabia against imports of $1,693.26 million.

Source: https://thefinancialexpress.com.bd/economy/saudi-businesses-keen-to-invest-in-bangladesh-1675954824

AB Bank COO becomes DMD

AB Bank has recently promoted its chief operations officer to the post of deputy managing director (DMD). The official, Md Aminur Rahman, is also a member of AB Bank Capital Market Investment team. He joined the bank in 2000 and earlier worked for subsidiary Cashlink Bangladesh, said a press release.   

Source: https://www.thedailystar.net/business/economy/stock/news/five-firms-make-one-third-weekly-stock-turnover-3245336

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,869.27
↑ 169.39↑ 0.50%
FTSE100$ 7,882.45 ↓ 28.70 ↓ 0.36%
Nikkei 225$ 27,670.98↑ 86.63↑ 0.31%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$79.72 ↑ 1.66↑ 2.13%
Crude Oil (Brent)$86.39 ↑ 1.89↑ 2.24%
Gold Spot$1,865.57↑ 3.79↑ 0.20%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 105.0103
BDT 107.0000

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

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




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