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 25, 2023

Banks’ forex balances on the rise

Gross foreign exchange balances held by commercial banks in Bangladesh rose to a 19-month high of $5.53 billion in June, owing to lower imports and higher export and remittance earnings. The previous high of $5.58 billion was registered in November last year. June’s holdings were up 6.23 per cent from the $5.21 billion held at the end of 2021-22 and an increase of 8 per cent from May this year when it stood at $5.12 billion. Despite the turmoil in the global economy, earnings from merchandise shipment rose 6.67 per cent to $55.55 billion in FY23, while remittance inflow grew 2.75 per cent to $21.61 billion. Imports declined 14.15 per cent to $69.97 billion in the July-May period of FY23. The data for the entire financial year has not been released yet. Outstanding forex reserves in the banking sector were $4.58 billion in 2019-20, $5.52 billion in 2020-21, and $5.2 billion in 2021-22, according to the Bangladesh Bank.

Source: https://www.thedailystar.net/business/economy/news/banks-forex-balances-the-rise-3377806

Oil prices rise

Oil prices rose on Monday as tightening supply and hopes for Chinese stimulus measures underpinned Brent at well above $80 a barrel, even as traders expected more rate hikes from US and European central banks. Brent crude futures were up 91 cents, or 1.1 per cent, at $81.98 a barrel by 1415 GMT. US West Texas Intermediate (WTI) crude was at $78.12 a barrel, also up $1.05, or 1.3 per cent. The benchmarks rose 1.5 per cent and 2.2 per cent respectively last week, their fourth straight of week of gains, as supply is expected to tighten following Opec+ cuts. Investors have priced in quarter-point hikes from the Federal Reserve and European Central Bank this week, so the focus will be on what Fed Chair Jerome Powell and ECB President Christine Lagarde say about future rate increases.

Source: https://www.thedailystar.net/business/global-economy/news/oil-prices-rise-3377766

 DSE turnover hits three-week low as investors tread cautiously

The Dhaka Stock Exchange (DSE) posted a three-week low turnover on Monday as many investors opted for a cautious approach when considering fresh positions in stocks. Compared to the previous day, the turnover declined by 15 per cent to Tk 6.33 billion on the premier bourse. This figure is the lowest since July 5, when the turnover amounted to Tk 8.9 billion. On Monday, most sectors on the DSE witnessed marginal declines, with the benchmark index DSEX closing at 6,337 points, down 0.07 per cent or 4.67 points from the previous day. The blue-chip index DS30, which experienced a 10-month high loss in the previous session following routine revision, declined marginally on Monday. Of the 30 blue-chip stocks, nine saw price corrections ranging between 0.21 per cent and 2.5 per cent. Among the major sectors, food and allied experienced the highest loss of 0.22 per cent, followed by pharmaceuticals, engineering and fuel & power, according to a market review by BRAC EPL Stock Brokerage.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/dse-turnover-hits-three-week-low-as-investors-tread-cautiously-1690214653

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,227.69
↑ 2.51↑ 0.01 %
FTSE100$ 7,663.73↑ 17.68↑ 0.23 %
Nikkei 225$ 32,701.65↑ 397.40↑ 1.23 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 76.92↓ 0.15↓ 0.19 %
Crude Oil (Brent)$ 80.92↓ 0.15↓ 0.19 %
Gold Spot$ 1,960.57↓ 1.37↓ 0.07 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 108.6600
BDT 109.0000

*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