The dollar rises to 120 rupees in the open market

[lightoftruth]

Bangladesh’s per capita income to increase by $233 by June, estimated to be $2,824: BBS

Bangladesh’s per capita income to increase by $233 by June: BBS ECONOMY TBS Report 10 May, 2022, 01:45 pm Last modified: 10 May, 2022, 02:21 pm https://www.tbsnews.net/economy/bbs-projects-75-gdp-growth-fy21-22-capita-income-hit-2824-416766 The per capita income of Bangladesh is going to...

defence.pk

Read this thread. Increased by 233 dollar per capita income to 2824 dollars.

That's an older news before devaluation, now it must have declined.

 

[Bilal9]

Can any one BD brother tell me what is cheapest price of 1 liter cooking oil pouch price in BD,
(not ones in bottle, as they costlier), i am just curious about inflation in pak, bd, ind.

Pouch pack is often the same price as plastic PET bottle pack for 1 litre (pouches are not popular in Bangladesh for some reason).

For 1 litre (Soybean, Palm Olein), it is about Tk. 150. Look at this page for the Teer and Rupchanda brands which are offered in pouches,

Oil - khan

www.khan.com.bd

 

[bluesky]

That's an older news before devaluation, now it must have declined.

A good evaluation of the devalued BD Taka. Expect more devaluation if it is finally proved that the current FE deposits amount to only $22 billion or less, and the BAL govt led by Hasina has been lying all along.

 

[pikkuboss]

A good evaluation of the devalued BD Taka. Expect more devaluation if it is finally proved that the current FE deposits amount to only $22 billion or less, and the BAL govt led by Hasina has been lying all along.

What is the date for Bangladesh GDP numbers?

 

[Black_cats]

In my opinion, at Tk120 to 1 dollar, the BD GDP is about $280 billion now, although our so-called BAL patriots will not like this figure. In reality, it is less than that.

These BAL patriots want us to believe that the GDP will reach $1 trillion by 2030. But, I don't know how it is possible without investment to build industries.

To make the BD GDP rise to $1 trillion, a total of $2,000 billion investment is needed to industrialize. I assumed the Capital : Output ratio at about 3 : 1.

However, our @UKBengali and @Black_cats should note that BD is now begging IMF for only $4.5 billion dollars. Some very bad people on social media are telling that the actual foreign currency reserve is down to only $22 billion or less.

Why are you blabbering 1 usd equal to 120 taka? Since when open market rate becomes official figure where most of the open market dollars are used for hundi purpose only.

Official figure is 1 usd equal to 95 taka. If you use Bangladeshi credit card internationally you will be charged at that rate. That’s the reason it is asked for international travelers to use credit card instead of buying from open market.

Visa exchange rate:

Exchange Rate Calculator - Currency Converter

Exchange Rates & Currency Conversion Calculator - Use the converter to get an indication of the rate you may receive when using your Visa card. Learn more.

usa.visa.com

Mastercard exchange rate:

Mastercard Currency Converter | Currency Exchange Rate Calculator

Mastercard currency converter tool calculates foreign exchange rates for all the major currencies worldwide to enable cross-border purchases and ATM transactions.

www.mastercard.us

Last month both import and export becomes equal, Bangladesh bank injected usd into the market, after that it should not remain that high rate even at open market.

Here few things are working that might have lead to the situation. Few private bank tried to utilize the situation and charged high rates for usd despite they were buying it at low rate from Bangladesh Bank. Recently due to that few foreign currency trading heads are removed by the instructions of Bangladesh bank.

Bangladesh Bank asks six banks to remove treasury heads amid dollar crisis

The Bangladesh Bank has asked six banks to remove the heads of their treasury departments amid allegation of dollar price manipulation...

www.newagebd.net

To make profit a syndicate is hoarding all the dollars to create an artificial crisis in the market.

Due to this uncertainties many people are not sending dollars through legal channel or not exchanging which has created an artificial shortage.

However with the approval of IMF loan as more usd will be injected even in open market it will come down to 90s rate or low 100s.

Plus let alone 2023-24 but even in 2028-25 debt repayment will reach 2.5 billion usd from present 1.4 billion usd, instead of 4-5 billion usd that you are posting.

Annual external debt servicing to hit $2.5b in 4 years

As of FY21, Bangladesh has repaid foreign debts amounting to $27.9 billion, including $20.7 billion in principal and $7.23 billion in interests

www.tbsnews.net

So without any knowledge don’t post nonsense or tag me unnecessarily.

 

[bluesky]

Why are you blabbering 1 usd equal to 120 taka? Since when open market rate becomes official figure where most of the open market dollars are used for hundi purpose only.

Official figure is 1 usd equal to 95 taka. If you use Bangladeshi credit card internationally you will be charged at that rate. That’s the reason it is asked for international travelers to use credit card instead of buying from open market.

Visa exchange rate:

Exchange Rate Calculator - Currency Converter

Exchange Rates & Currency Conversion Calculator - Use the converter to get an indication of the rate you may receive when using your Visa card. Learn more.

usa.visa.com

Mastercard exchange rate:

Mastercard Currency Converter | Currency Exchange Rate Calculator

Mastercard currency converter tool calculates foreign exchange rates for all the major currencies worldwide to enable cross-border purchases and ATM transactions.

www.mastercard.us

Last month both import and export becomes equal, Bangladesh bank injected usd into the market, after that it should not remain that high rate even at open market.

Here few things are working that might have lead to the situation. Few private bank tried to utilize the situation and charged high rates for usd despite they were buying it at low rate from Bangladesh Bank. Recently due to that few foreign currency trading heads are removed by the instructions of Bangladesh bank.

Bangladesh Bank asks six banks to remove treasury heads amid dollar crisis

The Bangladesh Bank has asked six banks to remove the heads of their treasury departments amid allegation of dollar price manipulation...

www.newagebd.net

To make profit a syndicate is hoarding all the dollars to create an artificial crisis in the market.

Due to this uncertainties many people are not sending dollars through legal channel or not exchanging which has created an artificial shortage.

However with the approval of IMF loan as more usd will be injected even in open market it will come down to 90s rate or low 100s.

Plus let alone 2023-24 but even in 2028-25 debt repayment will reach 2.5 billion usd from present 1.4 billion usd, instead of 4-5 billion usd that you are posting.

Annual external debt servicing to hit $2.5b in 4 years

As of FY21, Bangladesh has repaid foreign debts amounting to $27.9 billion, including $20.7 billion in principal and $7.23 billion in interests

www.tbsnews.net

So without any knowledge don’t post nonsense or tag me unnecessarily.

Bank rates are all artificial, kerb rates are the real ones. The OP news report says it is Tk120 to a dollar. Please note that I have not written this news.

Since you belong to BAL's inner circle, you know very well that your colleagues are buying/ hoarding dollars because they fear an election defeat or an immediate expulsion by the raging population.

No wonder, they are hoarding dollars. Please do not wait any more time. the BAL govt may fall anytime.

 

[Black_cats]

Bank rates are all artificial, kerb rates are the real ones. The OP news report says it is Tk120 to a dollar. Please note that I have not written this news.

Since you belong to BAL's inner circle, you know very well that your colleagues are buying/ hoarding dollars because they fear an election defeat or an immediate expulsion by the raging population.

No wonder, they are hoarding dollars. Please do not wait any more time. the BAL govt may fall anytime.

Kerb market is never an official source. People sale dollar as they get high rates there. Now tell me who buy dollars at a higher rate from kerb market compared to the banks. It’s the people who are responsible for hundi and money laundering.

As import and export has become same last month, fuel consumption went down theoretically there is no proper justification of higher rates even at the kerb market. It will come down shortly within monthly.

Instead of wasting time here posting become a fortune teller. You will do better.

 

[BananaRepublicUK]

Bank rates are all artificial, kerb rates are the real ones. The OP news report says it is Tk120 to a dollar. Please note that I have not written this news.

Since you belong to BAL's inner circle, you know very well that your colleagues are buying/ hoarding dollars because they fear an election defeat or an immediate expulsion by the raging population.

No wonder, they are hoarding dollars. Please do not wait any more time. the BAL govt may fall anytime.

You illiterate fool!

When criminals are whitening money on the back market - of course they will get a lower rate!!!

Why would any honest person buy dollars on the “open market”.

Honest person will buy straight from BB. And gets the benefit.

Black market rates have always been poor - for obvious reasons.

@UKBengali
@Homo Sapiens
@Bilal9

Someone teach this illiterate fool some basic economics!!!

So called “open market rates” is hurting Hinduvta turds because that’s the way they move money out.

That’s why Hinduvta turds are up in arms.

 

[bluesky]

Kerb market is never an official source. People sale dollar as they get high rates there. Now tell me who buy dollars at a higher rate from kerb market compared to the banks. It’s the people who are responsible for hundi and money laundering.

As import and export has become same last month, fuel consumption went down theoretically there is no proper justification of higher rates even at the kerb market. It will come down shortly within monthly.

Instead of wasting time here posting become a fortune teller. You will do better.

Yes, Taka may go up temporarily but then down when people will see a very late bailout plan by the IMF in November this year. It may of course go up if imports are down and exports are up.

But, the demand for textiles is low in the West. So, I believe there will remain a trade deficit. And bad guys in social media are telling the FE reserves at $22 billion. The GoB was just falsifying the reserve data to look good.

If so, the pressure on Dollars will take away more value from Taka. Note also that remittances via official channels will also be low. Expatriates will wait for Taka to go further down to say, 140 Taka to a dollar.

This will again cause Taka to weaken. So, you cannot say Taka will get stronger without saying the reasons. Just gossiping is no good. I believe weaker economic fundamentals may cause a little more of the Taka slide.

 

[Black_cats]

Yes, Taka may go up temporarily but then down when people will see a very late bailout plan by the IMF in November this year. It may of course go up if imports are down and exports are up.

But, the demand for textiles is low in the West. So, I believe there will remain a trade deficit. And bad guys in social media are telling the FE reserves at $22 billion. The GoB was just falsifying the reserve data to look good.

If so, the pressure on Dollars will take away more value from Taka. Note also that remittances via official channels will also be low. Expatriates will wait for Taka to go further down to say, 140 Taka to a dollar.

This will again cause Taka to weaken. So, you cannot say Taka will get stronger without saying the reasons. Just gossiping is no good. I believe weaker economic fundamentals may cause a little more of the Taka slide.

Yes lots of ifs but as I said you should be a fortune teller.

 

[bluesky]

Yes lots of ifs but as I said you should be a fortune teller.

Why the Hell do you talk nonsense all the time? Was it not you who played a fortune-teller and told me BD will become a $1 trillion economy by 2030?

Stupid, BAL crony, read the first paragraph of National Economic Development before you start prophecizing again. The govt is full of uneducated economists like you,

BD economy is now $280 billion or less as the dollar is 120 Taka. Man, you don't know even how to do small math!!! But, the IMF handout of only $4.5 billion will not repair the dent your BAL party has caused to BD economy.

 

[Black_cats]

Why the Hell do you talk nonsense all the time? Was it not you who played a fortune-teller and told me BD will become a $1 trillion economy by 2030?

Stupid, BAL crony, read the first paragraph of National Economic Development before you start prophecizing again. The govt is full of uneducated economists like you,

BD economy is now $280 billion or less as the dollar is 120 Taka. Man, you don't know even how to do small math!!! But, the IMF handout of only $4.5 billion will not repair the dent your BAL party has caused to BD economy.

Whatever float your boat. Who has no reference and talk only nonsense, I have no time for him.

1 trillion usd estimate is done by international agencies not by me.

Have some good night sleep dreaming usd equal to 120 taka and bd gdp 280 billion usd. Write some letter to IMF and world bank, hope they enlighten themselves with fortune telling.

 

[bluesky]

Whatever float your boat. Who has no reference and talk only nonsense, I have no time for him.

1 trillion usd estimate is done by international agencies not by me.

Have some good night sleep dreaming usd equal to 120 taka and bd gdp 280 billion usd. Write some letter to IMF and world bank, hope they enlighten themselves with fortune telling.

Tk120 to one dollar is given in the newspaper. Why does not it float your imbecile mind? Can you change the present reality of BD by just talking a few heroic words?

Tk 120 is no problem for you. The problem is why what I said six months before is coming true. You are in a dilemma now.

I tell you one thing, the process of building a strong national economy is already lost for at least a few decades. The govt will be repaying $4 to $5 billion every year to the creditor nations after 2024.

There will be no money to industrialize. Domestic borrowing amounts to $78 billion in Taka. So, there is no fund to invest to build industries by the private sector.

Now, tell me which medicine your BAL will use to treat the economic disease. BAL has already destroyed the future of BD economy.

So, how are you going to develop BD? Is it by faking the BBS data?

 

[UKBengali]

You illiterate fool!

When criminals are whitening money on the back market - of course they will get a lower rate!!!

Why would any honest person buy dollars on the “open market”.

Honest person will buy straight from BB. And gets the benefit.

Black market rates have always been poor - for obvious reasons.

@UKBengali
@Homo Sapiens
@Bilal9

Someone teach this illiterate fool some basic economics!!!

So called “open market rates” is hurting Hinduvta turds because that’s the way they move money out.

That’s why Hinduvta turds are up in arms.

Bro why are you engaging a half-educated troll who is talking way above his intelligence/education level?

Engaging trolls only feeds them and makes them come back for more.

Like I already said all currencies have devalued against the US dollar as currency traders have flocked to the "safe haven" of the world's reserve currency at this time.

Taka has lost 15% of its value against the dollar, which is pretty much the same as others like the Euro. If the Taka is about to collapse, then so is the Euro!

BD has one of the strongest economies in the developing world and will ride these economic headwinds out better than most other poor countries and so there is little to worry about.

 

[SD 10]

In my opinion, at Tk120 to 1 dollar, the BD GDP is about $280 billion now, although our so-called BAL patriots will not like this figure. In reality, it is less than that.

These BAL patriots want us to believe that the GDP will reach $1 trillion by 2030. But, I don't know how it is possible without investment to build industries.

To make the BD GDP rise to $1 trillion, a total of $2,000 billion investment is needed to industrialize. I assumed the Capital : Output ratio at about 3 : 1.

However, our @UKBengali and @Black_cats should note that BD is now begging IMF for only $4.5 billion dollars. Some very bad people on social media are telling that the actual foreign currency reserve is down to only $22 billion or less.

not too long ago bd had reserves of 40 billion if i am remembering it right? what happened? and why this sudden need to go to IMF? personally i though BD was doing much better economically? what went wrong?