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 June 22, 2023

Forex reserves rise past $30b

The country’s foreign exchange reserves yesterday rose past $30 billion as the inflow of remittances is now maintaining an upward trend ahead of Eid-ul-Azha. The reserves stood at $30.01 billion yesterday in contrast to $29.95 billion on Tuesday, said a Bangladesh Bank official. The reserves stood at $41.82 billion at the end of June last year. Although the central bank yesterday sold dollars to the tune of $74 million to some commercial banks to help them clear their import bills, reserves surpassed $30 billion riding on the higher inflow of remittances. A finance ministry official said the Asian Development Bank has recently given Bangladesh $400 million in budget support, which also led to a hike in the forex reserve. The BB has so far injected $13.43 billion into the banking sector this fiscal year. Expatriate Bangladeshis sent remittances amounting to $1.53 billion in the first 20 days of this month whereas it was $1.10 billion during the same period a year ago. The multilateral lender released $507 million to the government, giving a little bit of breathing space to the economy from the ongoing stress in the different zones of the macroeconomy. But the reserves slipped below the $30-billion mark again on May 25.

Source: https://www.thedailystar.net/business/economy/news/forex-reserves-rise-past-30b-3352721

Foreign investors can now keep dollars in bank accounts for 1 year

In a bid to increase the flow of foreign direct investment (FDI) in the country, the central bank has allowed foreign investors to keep foreign currency in their relevant account for a year. Earlier, if foreign investors sent foreign currency to the country, it had to be encashed in taka and kept in a local currency account. The decision of the central bank would now make investors more interested. The tenure of these accounts shall be one year from the date of opening, subject to closure immediately at the end of the prescribed time after encashment of the fund, if any, held in an account, the circular said. An official of the central bank said foreign investors have been given the opportunity to retain foreign currency so that the country’s investment is not hindered due to the dollar crisis. Central bank data shows that foreign net investment in the December quarter 2022 amounted to $703 million, which was $1,100 million in the previous quarter. Foreign net investment in Bangladesh increased by 20.18% in 2022 compared to 2021, reaching $3,479 million from $2,895 million.

Source: https://www.tbsnews.net/economy/banking/foreign-investors-can-now-keep-dollars-bank-accounts-1-year-653946

MFS transactions hit record Tk 1.25 lakh crore in April

Mobile financial service (MFS) providers recorded Tk 1.25 lakh crore-worth transactions in April, the highest ever so far, buoyed by an increase in spending, payments and money transfers ahead of the Eid-ul-Fitr festival. The transactions in April rose 15 per cent from the previous month’s Tk 1.08 lakh crore, and April was the second consecutive month that registered a growth momentum in the use of the MFS, according to data released by Bangladesh Bank. Year-on-year, transactions through MFS platforms grew 16 per cent from Tk 1.07 lakh crore in April 2022. April’s data showed that average daily transaction crossed Tk 4,000 crore, which was Tk 1,200 crore four years ago.

Source: https://www.thedailystar.net/business/economy/news/mobile-operators-handsets-now-instalments-3352711

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,951.52
↓ 102.35↓ 0.30 %
FTSE100$ 7,559.18↓ 10.13↓ 0.13 %
Nikkei 225$ 33,492.21↓ 82.93↓ 0.25 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 72.31↓ 0.22↓ 0.30 %
Crude Oil (Brent)$ 76.88↓ 0.24↓ 0.31 %
Gold Spot$ 1,932.05↓ 0.50↓ 0.03 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 108.4900
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