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 July 07, 2022

Liquidity stress at banks fuels call money rate

The ongoing strain on Bangladesh’s foreign exchange market and the growing demand for cash ahead of Eid-ul-Azha sent the inter-bank call money rate to at least a six-year high yesterday. The weighted average rate in the inter-bank call money market, where banks borrow from each other on an overnight basis, stood at 5.26 per cent in contrast to 5.01 per cent a month ago, and 2.44 per cent a year prior. The central bank injected a record $7.62 billion into the market in the fiscal year that ended on June 30, meaning an equivalent local currency amount has moved in the other direction, intensifying the liquidity crunch. Excess liquidity at banks stood at Tk 189,183 crore as of May, down 11 per cent year-on-year. The government borrowed Tk 64,755 crore from the banking system in FY2021-22 in contrast to Tk 26,078 crore the year before.

Source: https://www.thedailystar.net/business/economy/news/liquidity-stress-banks-fuels-call-money-rate-3065946

Exporters to get 20pc incentive

Exporters of diversified jute products such as food-grade bags, clothes, yarns and twines will receive a 20 per cent export incentive, according to a Bangladesh Bank notice. They, however, will have to ensure the use of the natural fibre equivalent to at least 50 per cent of the export price. The incentive for hessian, sacking and carpet backing cloth is 12 per cent. Jute and jute goods exports fetched $1.13 billion in the last fiscal year, down 2.91 per cent year-on-year.

Source: https://www.thedailystar.net/business/economy/news/exporters-get-20pc-incentive-3065906

UCB chairman re-elected

Rukhmila Zaman, Managing Director of Aramit Group, was unanimously re-elected as the Chairman of United Commercial Bank Limited in the 472nd Board Meeting held on Wednesday at the Corporate Office of UCB. Bashir Ahmed has been elected as Vice-Chairman of UCB. Director of Ronny Chemical Industries Ltd, Chairman of Navana Pharmaceuticals Limited, Chairman of UCB Fintech Company Limited UPAY, Anisuzzaman Chowdhury was re-elected as Chairman of Executive Committee of the Bank. M. A. Sabur has been re-elected as Chairman of the Risk Management Committee of the Bank.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ucb-chairman-re-elected-1657128841

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 31,037.68
↑ 69.86↑ 0.23 %
FTSE100$ 7,107.77↑ 82.30↑ 1.17 %
Nikkei 225$ 26,498.88↑ 391.23↑ 1.50 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 99.24↑ 0.71↑ 0.72 %
Crude Oil (Brent)$ 101.44↑ 0.75↑ 0.74 %
Gold Spot$ 1,745.63↑ 6.77↑ 0.39 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 93.4500
GBP 1BDT 111.7662
EUR 1BDT 95.9732

*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