Foreign exchange reserve crisis. Taka may crush shortly.

[bluesky]

Foreign exchange reserve crisis. Taka may crush shortly.

 

[SoulSpokesman]

Not again!

Regards

 

[Valar.]

Your own other recent thread says that BD has secured 4.5 billion dollars deal with IMF. So, if anything, Taka won't crash but rather improve it's value from 100 to back to 85, like it was.

 

[UKBengali]

Not again!

Regards

Foreign reserves have gone down by 3 billion US dollars(less than 10%) in last 3 months and that was because payment for items ordered in January-March 2022 were settled in last quarter.

BD government has severely restricted non-essential imports since then.

 

[VikingRaider]

@UKBengali the great should know that , now we are getting 72/73 rupee against 100 taka. Before covid 19 the exchange rate was 85/86 taka!

So we are losing almost 12000+ per 1 lakh taka against rupee .


Joy Bangladesh development party ( Jamat) !

 

[Valar.]

So we are losing almost 12000+ per 1 lakh taka against rupee .

Brother, you are welcome to make gains against our Rupees. lol

1 BDT = 2.1 PKR
1 lakh taka = 2.1 lakh pk rupees

 

[VikingRaider]

Brother, you are welcome to make gains against our Rupees. lol

1 BDT = 2.1 PKR
1 lakh taka = 2.1 lakh pk rupees

Indian rupees not Pakistani rupee brother! Bangladeshis mostly visit India! So our savings are under threat if we visit India and spend a lot!

 

[Valar.]

Indian rupees not Pakistani rupee brother! Bangladeshis mostly visit India! So our savings are under threat if we visit India and spend a lot!

Then don't visit. Develop and visit your own country's tourist spots and stimulate the local economy.

It's a similar case in Pakistan where many people used to go abroad when rupee was comparatively stronger and then pandemic happened, currency devaluation happened and people started to ask others where to go to in Pak. First answer was, there is no such place, second answer same, then it started to change. One person has been to this place and other has been to that place. Next thing you know many people started to visit those places including my family.

 

[SoulSpokesman]

@Valar. sahib makes an interesting point. All the three subcontinental countries (IND/PAK/BD) are as of now having trade deficits, all of them need to boost exports. Better that all three of them not try to defend their currencies, better to let them depreciate so that imports are discouraged and exports are encouraged in a natural sort of way.

The reason why Pak is in a worse way as of now is because historically "economists" like Dollar Dar have had a far greater run there than in IND or BD.

Regards

 

[epebble]

Foreign exchange reserve crisis. Taka may crush shortly.

Analysis in English:

How Bangladesh went from an economic miracle to needing IMF help​

How Bangladesh went from an economic miracle to needing IMF help

knpr.org

Timely steps can help avert crisis​

Timely steps can help avert crisis

Bangladesh may fall into deep economic crisis unless it puts in place comprehensive policies and reforms, and starts implementing them immediately, said a number of economists yesterday.

www.thedailystar.net

Wheat consumption in Bangladesh may drop 10pc: USDA​

Wheat consumption in Bangladesh may drop 10pc: USDA

Bangladesh’s overall wheat consumption is likely to drop 10 per cent to 69 lakh tonnes in the marketing year of 2022-23 as high market prices and lower supply of wheat and wheat flour are reducing consumer demand, according to the US Department of Agriculture (USDA).

www.thedailystar.net

BTMA urges govt to discourage yarn import​

BTMA urges govt to discourage yarn import

Entrepreneurs in the textile sector say that this will save local textile mills from huge losses

www.tbsnews.net

Can an IMF loan rescue Bangladesh's economy?​

Can an IMF loan rescue Bangladesh's economy?

Our current economic situation is one in which countries usually look to the IMF for balance of payment support.

www.thedailystar.net

 

[Bilal9]

Indian rupees not Pakistani rupee brother! Bangladeshis mostly visit India! So our savings are under threat if we visit India and spend a lot!

Bangladeshis have stopped going to India now - mostly.

Indian money exchange syndicates only giving 60 Rupees for 1 dollar. Bunch of haramis.

Their businesses will see the losses.....

 

[VikingRaider]

Then don't visit. Develop and visit your own country's tourist spots and stimulate the local economy.

It's a similar case in Pakistan where many people used to go abroad when rupee was comparatively stronger and then pandemic happened, currency devaluation happened and people started to ask others where to go to in Pak. First answer was, there is no such place, second answer same, then it started to change. One person has been to this place and other has been to that place. Next thing you know many people started to visit those places including my family.

People visit India for medical tourism. I support what you say. But who will belt the cat?

BAL is in power for 14 years. They did few development work,but none are sustainable. As quick rental electricity is the example.

I don't dare to dream brother, untill we really have some sustainable development.

 

[StraightEdge]

Foreign exchange reserve crisis. Taka may crush shortly.

Who is this person? His credentials? Saw one of his videos earlier, but don't know much about him.

 

[Valar.]

People visit India for medical tourism.

Yes, there are medical tourists from BD to India but they are only 10% of total visitors from Bangladesh. Also, those 10% Bangladeshi medical tourists make around half of medical tourists in India.

Roughly, before pandemic:
BD total visitors in India = 2.3 million
BD medical tourists in India = 2.3 lakh
Total medical tourists in India = around 5 lakh

In other words, around 2 million tourists visit India for leisure and shopping. Whatever they do/get there, I'm sure, they can do/get the same in BD.

 

[Indos]

@Valar. sahib makes an interesting point. All the three subcontinental countries (IND/PAK/BD) are as of now having trade deficits, all of them need to boost exports. Better that all three of them not try to defend their currencies, better to let them depreciate so that imports are discouraged and exports are encouraged in a natural sort of way.

The reason why Pak is in a worse way as of now is because historically "economists" like Dollar Dar have had a far greater run there than in IND or BD.

Regards

Your Central Bank Governor understands economic more than you do, they will not raise the interest rate if it is not necessary because hiking interest rate has so many negative effect.

If your Rupee keep falling then what will be the result ?

Your private sectors debt in USD will be greater
Your gov debt in USD will get bigger in Rupee
Foreign investors in your stock market and bond market can lost confident in India financial market, what happen when their confident is lost ?