report in The Daily Star, Sept 26, 2023Bangladesh’s credit rating came under further threat today as Fitch put the country on a “negative” outlook while giving a damning verdict on the central bank’s policy response to the fast-depleting foreign currency reserves. The American rating agency maintained Bangladesh’s BB- rating but warned that the outlook was now negative rather than stable, mirroring the action taken in July by its peer Standard and Poor’s. By the end…
Posts tagged as “currency”
report in The Island, June 11, 2023Sri Lanka’s poor has surged by 4 million to 7 million since 2019 to 31 percent of the population in 2023, a survey has found as the country was hit by the worst currency crisis in the history of its central bank. A 10,000 person survey by LirneAsia, a regional policy research organization, found that 33 percent of the respondents had skipped a meal and 47 percent reduced their…
by Rejaul Karim Byron in The Daily Star, Mar 3, 2023Bangladesh and India are in talks about doing away with the dollar as the official currency for payments between the two countries — a development that would bring down the cost of trade as well as the conversion rate losses for businesses and ordinary people. The talks took place on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting held in the…
by Asma Saayin in ToloNews, Feb 8, 2023 at 9:49 PMThe Islamic Emirate of Afghanistan issued a statement forbidding the smuggling of currency, gold and precious stones into or out of the country. Bringing currency from other regional countries into Afghanistan is not allowed. According to the statement, no one has the right to transport across the border more than $5,000 in cash by air and more than $500 by land. “The money, gold, and…
by Masud Milad in Prothom Alo, Jan 19, 2023 Chattogram: The unloading of commodities from three freighters has been stalled at Chattogram seaport for different terms as the banks here have failed to settle the import bills in dollar despite receiving full payments from the importers in the local currency. The ships carried unrefined sugar and edible oil, two essential commodities during the holy month of Ramadan, to Bangladesh from Malaysia and Brazil. The volume…