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 May 09, 2023

Budget to be placed on June 1

Finance Minister AHM Mustafa Kamal is scheduled to present the national budget for fiscal year 2023-24 on June 1. This year the budget will be presented earlier than the previous occasions because of the Eid-ul-Azha, one of the largest religious festivals for Muslims. The government wants to finish the next national budget before the vacation of Eid-ul-Azha. The budget of the 2023-24 financial year will be around Tk 759,955 crore, which will be the highest-ever budget in the history of Bangladesh. The National Economic Council is scheduled to announce the new annual development programme of Tk 2.74 lakh crore on May 11, according to an official of the planning commission.

Source: https://www.thedailystar.net/business/economy/news/budget-be-placed-jun-1-3314751

Forex reserves fall to $29.77b after ACU payments

The country’s foreign exchange reserves have fallen to $29.77 billion as Bangladesh Bank cleared import bills to the tune of $1.18 billion through Asian Clearing Union (ACU). The reserves stood at $42.20 billion in May last year, meaning that the amount decreased by 29.45 per cent over the past year, showed central bank data. With Bangladesh Bank having made the payment to the ACU last week, the funds were adjusted from the country’s foreign exchange reserves on Sunday. Remittance, the cheapest source of US dollars for Bangladesh, declined 16.27 per cent year-on-year to $1.68 billion in April. However, the flow was up 2.36 per cent to $17.71 billion in the first 10 months of fiscal year 2022-23. Export earnings dipped 16.52 per cent to $3.95 billion in April, data from the Export Promotion Bureau showed yesterday. But it was up 5.38 per cent to $45.67 billion during the 10-month period. Although import bills fell 10.27 per cent to $48.79 billion in the first eight months of 2022-23, it was not enough to stop the depletion of the forex. Import data for March and April have not been published yet.

Source: https://www.thedailystar.net/business/economy/news/forex-reserves-fall-2977b-after-acu-payments-3314746

Interbank dollar rate hits record Tk108

The interbank dollar rate, at which one bank sells dollars to another, rose to a record Tk108, but transactions on the platform were poor due to a shortage of greenbacks in the country. And the country’s foreign currency reserves have dipped to $29.78 billion. According to data from the central bank, banks on Sunday transacted dollars among themselves between Tk107.30 and Tk108. According to bankers, the interbank dollar rate has risen mainly due to an increase in remittance rates. Earlier on 30 April, the Association of Bankers Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers’ Association (Bafeda) raised the dollar rate by Tk1 to Tk108 for remitters. According to a Bafeda report, banks traded $1 million at the rate of Tk107.30 and $50,000 at the rate of Tk108 on the interbank system on Sunday.

Source: https://www.tbsnews.net/economy/banking/interbank-dollar-rate-hits-record-tk108-transactions-poor-628514

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,618.69
↓ 55.69↓ 0.17 %
FTSE100$ 7,778.38↑ 75.74 ↑ 0.98 %
Nikkei 225$ 29,189.20↑ 239.32↑ 0.83 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 72.89↓ 0.27↓ 0.37 %
Crude Oil (Brent)$ 76.68↓ 0.33↓ 0.43 %
Gold Spot$ 2,025.08↑ 3.92↑ 0.19 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 107.3000
BDT 108.0000

*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