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 30, 2022

BB raises policy rate for first time in a decade

The Bangladesh Bank yesterday raised its key interest rate for the first time in a decade and devalued the local currency for the seventh time this year against the dollar as part of its moves to tackle inflationary forces and restore stability in the foreign exchange market. The BB interest or policy rate, which is termed the repurchase agreement (repo), is a pivotal benchmark interest rate followed by commercial banks to set the interest rates on both loans and deposits. Hiking the repo rate means the taka will be costlier, which will subsequently help contain inflation. Yesterday, the BB raised the repo rate by 25 basis points to 5 per cent, the first hike since January 5, 2012. The BB notice announcing the hike in the policy rate came hours after it depreciated the exchange rate of the taka by 1.25 per cent to Tk 89 per US dollar. It stood at Tk 85.80 per dollar on December 30 and Tk 84.80 on May 29 last year. Although the BB fixed the BC (bills for collection) rate—at which banks sell dollars to importers—at Tk 88, banks are charging importers up to Tk 97. The central bank yesterday revised upwards the BC selling rate to Tk 89.15 a dollar. Besides, banks have been asked to offer a maximum of Tk 88.15 to exporters while purchasing their export bills.

Source: https://www.thedailystar.net/business/economy/news/bb-raises-policy-rate-first-time-decade-3034846

Dhaka Bank signs deal with JK Group

Dhaka Bank Limited signed an agreement recently at the bank’s head office for providing cash management services to JK Group. Emranul Huq, Managing Director & CEO, Dhaka Bank Limited, and Md. Jahangir Alam Khan, Managing Director, JK Group, signed the agreement on behalf of their respective organizations. Mohammad Abu Jafar, Additional Managing Director, Dhaka Bank Ltd. Md. Mostaque Ahmed, Deputy Managing Director & CEMO, Dhaka Bank Limited, Akhlaqur Rahman, SEVP & Head of Corporate Banking Division, Dhaka Bank Limited, Mustafa Husain, SEVP & Manager, Gulshan Branch, Dhaka Bank Limited, Md. Tanvir Khan, Director, JK Group, and Md. Masum Khan, General Manager (Finance & Accounts), JK Group were also present, among others, at the signing ceremony.

Source: https://today.thefinancialexpress.com.bd/trade-market/dhaka-bank-signs-deal-with-jk-group-1653846203

HSBC launches instant fund transfer solution

The Hongkong and Shanghai Banking Corporation in Bangladesh has recently launched an instant, real-time payment collection solution developed with support from the Bangladesh Bank’s National Payments Switch of Bangladesh (NPSB). The NPSB is an electronic platform operating with a view to attain real-time interoperability among scheduled banks. The solution will enable corporate and retail customers to instantly receive funds from other banks participating locally with NPSB-enabled internet banking fund transfers.

Source: https://www.thedailystar.net/business/organisation-news/news/hsbc-launches-instant-fund-transfer-solution-3034761

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,212.96
↑ 575.77↑ 1.76 %
FTSE100$ 7,585.46↑ 20.54↑ 0.27 %
Nikkei 225$ 27,316.02↑ 534.34↑ 2.00 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 116.03↑ 0.96↑ 0.83 %
Crude Oil (Brent)$ 120.06↑ 0.63↑ 0.53 %
Gold Spot$ 1,860.54↑ 6.82↑ 0.37 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 87.9000
GBP 1BDT 110.9298
EUR 1BDT 94.3255

*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