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 September 01, 2022

Forex reserve falls to $39.05b

Bangladesh’s foreign exchange reserve has started to decline once again as it stood at $39.05 billion yesterday in contrast to $39.21 billion the day before. The reserves stood at $39.59 billion at the end of July compared to $41.82 billion in June this year. In the last three days, the banking watchdog had sold $367 million to different banks to help both the governments and businesses settle import bills for essential commodities. Between July and August, around $2.50 billion were supplied to the market by the central bank from its reserves. It also injected a record of $7.62 billion into the market in the last fiscal year. The exchange rate of the taka against the US dollar stood at Tk 95 yesterday, up 11.5 per cent year-on-year. Migrant workers sent $1.72 billion in remittance in the first 25 days of August after they had logged the outflow to the tune of $2.09 billion in July. Import bills rose 63 per cent year-on-year to $7.66 billion in July when export earnings grew by 15 per cent to $3.98 billion, data from BB and the Export Promotion Bureau showed.

Source: https://www.thedailystar.net/business/economy/news/forex-reserve-falls-3905b-3108221

Oil prices fall 3pc on recession fears

Brent crude futures for October, due to expire on Wednesday, were down $3.41 at $95.90 a barrel following Tuesday’s $5.78 loss. The more active November contract was down $2.97, or 3.04%, at $94.87 a barrel. U.S. West Texas Intermediate (WTI) crude futures were down $2.89, or 3.15%, at $88.75 a barrel by 1044 GMT, after sliding $5.37 in the previous session on recession fears. Adding to the bearish signals was a report by the Joint Technical Committee of the Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+. In it, the JTC said its base case scenario was an oil surplus this year of 900,000 barrels per day (bpd), up 100,000 bpd from its forecast a month earlier. The drawdown in gasoline stockpiles was nearly triple the 1.2 million barrel drop that eight analysts polled by Reuters had expected on average. For distillate inventories they had expected a drop of about 1 million barrels.

Source: https://today.thefinancialexpress.com.bd/trade-market/oil-prices-fall-3pc-on-recession-fears-1661966392

Trade reforms help increase investment by 50%

Small-scale exporters increased their investments by around 50%, or Tk1.2 crore on an average, and hired new 79 employees thanks to numerous government measures aimed at facilitating trade. The measures mainly include simplified trade and customs procedure, reduced trade regulatory cost and digitalisation and online services, according to the study conducted on 50 export-oriented apparel and other companies by Policy Research Institution (PRI) late-2021. According to the PRI survey, 23% of the companies observed no policy reform despite expanding their investments by Tk17 lakh on an average. 

Source: https://www.tbsnews.net/economy/trade-reforms-help-increase-investment-50-survey-487698

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 31,510.43
↓ 280.44↓ 0.88 %
FTSE100$ 7,284.15↓ 77.48↓ 1.05 %
Nikkei 225$ 27,673.14↓ 418.39 ↓ 1.49 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 89.30 ↓ 0.25↓ 0.28 %
Crude Oil (Brent)$ 96.49↓ 2.82↓ 2.84 %
Gold Spot$ 1,705.51↓ 5.53↓ 0.32 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 95.0000
GBP 1BDT 110.7415
EUR 1BDT 95.1520

*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