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 October 13, 2022

Bangladesh’s RMG export to US rises 53.54pc

Bangladesh’s garment shipment to the country’s single largest export destination, the USA, rose 53.54 per cent year-on-year to $6.64 billion in the January-August period of the current year, according to data from the USA’s Office of Textiles and Apparel (OTEXA). Bangladesh remained the third largest apparel import source for the USA, the report said. In the January-August period, the United States of America imported $69.27 billion worth of apparels from the world, registering 37.35 per cent rise year-on-year, the data also said. In the first eight months of 2022, USA’s imports from China grew by 37.17 per cent to hit $15.56 billion. At the same time, imports from Vietnam stood at $12.80 billion, posting a 33.62 per cent year-on-year growth, the OTEXA data also said. Among the top 10 apparel suppliers to the USA, imports from India, Indonesia, Cambodia, South Korea and Pakistan increased by 56.9 per cent, 56.48 per cent, 51.64 per cent, 42.96 per cent and 42.16 per cent year-on-year respectively.

Source: https://www.thedailystar.net/business/economy/news/bangladeshs-rmg-export-us-rises-5354pc-3141456

BB instructs banks to tighten monitoring of cryptocurrency transactions

Bangladesh Bank has once again directed authorities to monitor cryptocurrency transactions after finding that people are still using bank accounts for the buying and selling of Bitcoin and other virtual currencies, bdnews24.com reports. The central bank issued a circular on the matter and sent it out to the managing directors of all banks on Wednesday. The national bank had recently noticed that different foreign Virtual Asset Service Providers or VASPs are carrying out “transactions, buying and selling, re-selling, p2p/exchange/relocate/trade activities” of virtual currencies using customer accounts of scheduled banks through their websites and apps, the circular read. Bangladesh Bank instructed all financial service providers to “increase monitoring maintaining proper caution” to prevent such activities.

Source: https://thefinancialexpress.com.bd/economy/bb-instructs-banks-to-tighten-monitoring-of-cryptocurrency-transactions-1665628430

Lending rates likely to go up

The central bank is mulling an increase in lending rates as interest rates on deposits have kept rising amid soaring inflation. In a meeting with the representatives of four state-run commercial banks on Wednesday, the Bangladesh Bank discussed the matter, meeting participants told The Business Standard.  Bangladesh Bank Deputy Governor Farah Nasser, Sonali Bank Managing Director Md Afzal Karim, Agrani Bank Managing Director Md Murshedul Kabir, Rupali Bank Managing Director Mohammad Jahangir and Janata Bank Managing Director Abdus Salam Azad were present, among others, at the event. According to the central bank’s policy, interest rates on deposits of a three-month term or above must be higher than the average inflation of the previous three months. In June 2021, when the central bank capped the lending rates at 9%, deposit rates were above 5.64% – the average inflation. Interest rate spread – lending rate minus deposit rate – was okay then. 

Source: https://www.tbsnews.net/economy/banking/lending-rates-likely-go-512706

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓ 28.34 ↓ 0.10%
FTSE100$6,826.15 ↓59.08↓ 0.86%
Nikkei 225$26,277.79↓ 119.04↓ 0.45%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$87.14 ↓ 0.13↓ 0.15%
Crude Oil (Brent)$92.450.000.00%
Gold Spot$1,669.16 ↑ 4.03↑ 0.24%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 104.7600
BDT 105.6600

*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