The new record in the country's foreign exchange reserves is $46.04 billion

[salute]

These guys feel so good at their Googling skills that they spread misinformation confidently.

India has Internet, so Bangladesh can't have it - right?

Schmucks don't realize ours was always an open economy, unlike license Raj India. We got Television and even Color Television way before Indians had basic third-rate Doordarshan TV for two hours a day. We had analog cellphones in the 70's before anyone in India knew what a cellphone was. No one in Bangladesh even compares Bangladesh with India anymore.

The parents of these trolls were still waiting their turn on a lottery waiting three years to take delivery of their $hitty Ambys and Padmini, readying Ganda Phool for the auspicious day. Still doing it for 800cc tinpot deathtraps made with tinfoil.

Now all is forgotten because India has a few Backoffice jobs and glass buildings in Gurugram. India Amrika ban gaya (at $2000 dollars GDP per head). Desh agey bar raha hai. "X" abhijaan aur "Y" abhijaan. Easy to do it - putting blinders on and inserting head in the sand.

Modi ruined India. You will find out more as time goes on....

Of course we can't compare ourselves to 3000 cars per annum market.

This is just our July sales. We are sorry we have tried and could not compete with you in Rickshaws




This are the leading cars.

 

[salute]

Wow another hindutva turd with flat earther level of ignorance.

Dumb motherF**ker, let me break it down for you. A sovereign rating is officially published by a rating house on request of a country. It is quoted when bonds and gilts are issued.

Beyond that there is a fuild sovereign credit rating that is maintained by financial institutions and this is what determines daily trades.

As for the reserves you are also inaccurate. BDs reserves are almost all BDs own, they come through remittances from BD diaspora where hard currency is exchanged for Taka. BoB reduces MO (in taka and sometimes also buying $) to manage MB. Apart for validated companies it is not legal for institutions or individuals in BD to maintain hard currency accounts. BD reserves are growing due to remittances received as well as trade

Dont come here with 2 second google search knowledge and string together words that you have no concept of. Stick to bharat rat shack forum street shiter.

Here are you are dumbo.

S&P latest excerpt on Bangladesh


SINGAPORE (S&P Global Ratings) Aug. 24, 2021–S&P Global Ratings today affirmed its ‘BB-‘ long-term and ‘B’ short-term sovereign credit ratings on Bangladesh. The outlook remains stable.

Outlook

The stable outlook reflects our expectation that Bangladesh’s solid growth prospects will prevail against the risks associated with the COVID-19 pandemic over the next 12 months.

Upside scenario

We may raise the ratings if the government materially improves its fiscal outcomes, including its very low revenue generation and elevated fiscal deficits. We may also raise the ratings if we observe that Bangladesh’s institutional settings have markedly improved.

Downside scenario

We may lower the ratings if fiscal and external debt metrics weaken further. We could also lower the ratings if external debt and financing metrics worsen materially, such that narrow net external debt surpasses 50% of current account receipts, and gross external financing needs exceed 100% of current account receipts plus usable reserves, on a sustained basis

Bangladesh BB- rating confirmed by Standard and Poor’s | EconomyNext

Standard and Poor's said it was confirming a BB- long term rating of Bangladesh saying despite several challenges the country was would show higher growth than its peers.

economynext.com

 

[mb444]

Using expletives to show your ignorance. I know you are from the peanut brain land, so I'll just leave you to your vices. You run a current account deficit, you moron. Remittances are already accounted for.


"India’s sovereign credit rating of BBB- then boils down to the following: The Indian government’s probability of default, reflecting both its ability and willingness to repay its debt obligations, is very high. International investors then would be advised to beware of lending to India. This, however, seems completely incongruous with facts pertaining to both our ability and willingness to pay. In order to repay debts denominated in dollars, a country needs to possess both the ability and willingness to repay.

The country’s foreign reserves determine its ability to pay. India’s foreign exchange reserves, as of 15 January 2021, were at $584.24 billion compared to its total external debt, including that of the private sector, at $556.2 billion. Its reserves to debt ratio, which was at 78.4% in 2016-17, rose to 85% in 2019-2020, and appears to have further risen to 105% in 2021. The short-term debt owed by the private sector as a proportion of total forex reserves was 19.1% in September 2020. Further, our forex reserves were sufficient to cover 12 months of imports in 2020, as opposed to 11.1 months in 2016. Clearly, India has done reasonably well in terms of its external sector vulnerability, despite a pandemic.

With regard to willingness to pay, clearly, that India has not had a zero sovereign default history attests to the fact that the probability of default is extremely low. In November 2019, Standard & Poor’s cited low per capita GDP and relatively high fiscal deficit as the reasons why India would not be granted a ratings upgrade for some ‘considerable period’. "

On both counts, you are even worse than India.

No one was remotely talking about india or its credit rating but just like the hindutva turd you are you turned up to troll.

None of the garbage above remotely validates your earlier position that somehow reserves does not impact credit rating.

 

[mb444]

Hopefully, it'll cross the $50 billion milestones in a few months.

I think they aim to have somewhere around $150 billion USD within this decade. Though someone told me having too much foreign reserve, as a percentage of your GDP, isn't always a good thing. In fact, it could highlight underlying problems. Not being an economist, I can't really say what those are, happy to be corrected.

Overall, some encouraging signs. Though overall macro-economic indicators will surely fall behind prior targets, due to the poor handling of the 3rd covid wave, which we still haven't fully recovered from. Hopefully, we can spring back to action from 2022, and go back to late 2010s growth rates.

Too much reserves can become a problem particularly in a sheilded economy like ours. BD effectively converts taka to hard currency. So an expat sends a dollar to BD, BoB takes the dollar and gives out 85tk. What is also does is removes 85tk from general circulation so that the total cumulative money supply remains the same. It does so to control inflation.

Too much reserves can under such a situation reduce the money supply and reduce economic activity.

 

[Black Tornado]

Of course we can't compare ourselves to 3000 cars per annum market.

This is just our July sales. We are sorry we have tried and could not compete with you in Rickshaws




This are the leading cars.

View attachment 773108View attachment 773110View attachment 773111View attachment 773112View attachment 773113View attachment 773114View attachment 773115View attachment 773116

Taxes on automobiles in India are pretty high. It results in a low grade 3 star rated car like even Seltos costing us 20Lakhs +. If they make it more secure like in international markets, affordability will reduce.

 

[Chhatrapati]

Using expletives to show your ignorance. I know you are from the peanut brain land, so I'll just leave you to your vices. You run a current account deficit, you moron. Remittances are already accounted for.


"India’s sovereign credit rating of BBB- then boils down to the following: The Indian government’s probability of default, reflecting both its ability and willingness to repay its debt obligations, is very high. International investors then would be advised to beware of lending to India. This, however, seems completely incongruous with facts pertaining to both our ability and willingness to pay. In order to repay debts denominated in dollars, a country needs to possess both the ability and willingness to repay.

The country’s foreign reserves determine its ability to pay. India’s foreign exchange reserves, as of 15 January 2021, were at $584.24 billion compared to its total external debt, including that of the private sector, at $556.2 billion. Its reserves to debt ratio, which was at 78.4% in 2016-17, rose to 85% in 2019-2020, and appears to have further risen to 105% in 2021. The short-term debt owed by the private sector as a proportion of total forex reserves was 19.1% in September 2020. Further, our forex reserves were sufficient to cover 12 months of imports in 2020, as opposed to 11.1 months in 2016. Clearly, India has done reasonably well in terms of its external sector vulnerability, despite a pandemic.

With regard to willingness to pay, clearly, that India has not had a zero sovereign default history attests to the fact that the probability of default is extremely low. In November 2019, Standard & Poor’s cited low per capita GDP and relatively high fiscal deficit as the reasons why India would not be granted a ratings upgrade for some ‘considerable period’. "

On both counts, you are even worse than India.

Just report and move on, don't embarrass them further, nobody visits these places I accidentally stumbled across a comment and they went bonkers.

 

[mb444]

Just report and move on, don't embarrass them further, nobody visits these places I accidentally stumbled across a comment and they went bonkers.

No you turned up, made an ill informed comment and put on show your utter ignorance as per hidutva modus operandi and got slapped down. Everyday occurance on this part of the forum.

 

[Bilal9]

Taxes on automobiles in India are pretty high. It results in a low grade 3 star rated car like even Seltos costing us 20Lakhs +. If they make it more secure like in international markets, affordability will reduce.

Taxes on automobiles in India are nothing compared to those on our shores.

Minimum tariff on vehicles sold in Bangladesh start at 300%, and then go up to 800% on Luxury passenger cars. ANY CAR in Bangladesh at a minimum (even reconditioned cars) costs minimum of 20 lakh.

Two wheeler sales in Bangladesh are also moribund because no bank will finance sales of 2 wheelers, unlike in India.

Take a look at Used (reconditioned) JDM car prices, for Japanese spec.

Reconditioned Cars for Sale in Bangladesh | Bikroy

🚦 Find the best deals on reconditioned cars from the trusted dealers and sellers in Bangladesh. Bikroy has the largest collection of reconditioned cars from popular brands.

bikroy.com

 

[Chhatrapati]

No you turned up, made an ill informed comment and put on show your utter ignorance as per hidutva modus operandi and got slapped down. Everyday occurance on this part of the forum.

It was rather an innocuous comment. Couldn't find your reply though lol why delete... Your comments were nonsense to begin with. Read the criterias with which say Fitch gives ratings for countries. Also, forex is not completely the money you have like in your bank account that would simply boost your credit rating. BD having 46B is not like your government owns 46B, they mostly comprises of loans, deposits, T bills, SDRs or assets. Throwing "hindutva" like twink billu at the end of every comment does not look very smart. But hey I won't judge

 

[PoondolotoPandalum]

Slight diversion

Bangladesh will never compete with India on motor vehicle consumption, even on a per capita basis. Car prices are almost as bad as in Singapore. For the price of a 1600cc FWD Toyota, I can get a BMW 5 Series in the West (not that I like BMWs, I'd rather get a Lexus). India also has a ginormous automotive industry, thanks to high local demand. Bangladesh will never match this, nor does it has any plans to tbh. We might get automotive factories (as opposed to assembly plants) in a few years. But they won't be on the same scale. Far lower domestic demand, due to a combination of factors.

Over the decades, India tried to motorize the nation and had succeeded to some degree. Whereas no such effort was conducted in Bangladesh (heck even our agriculture is unmechanised, though highly successful regardless). In fact, you can argue the opposite. Bangladeshi policymakers had tried to discourage vehicle ownership. I mean, Bangladesh's current infastructure can barely struggle. It takes hours to get from one part of Dhaka to another. A journey that'd take 20-30 mins anywhere else. The answer to mobility in Bangladesh is better public infastructure. The rich can buy their cars, just like in Singapore, with their COE things + ridiculous tax.

I think Bangladesh should eliminate the retarted motorcycle CC limit. Whichever genius thought that was a good idea, need to understand why most countries BAN 125cc LEARNER motorcycles on HIGHWAYS, because they're dangerously slow. You're more likely to die in a bicycle than you are in a R1250GS.

Honda, Yamaha, and Kawasaki have actually lobbied the BD government to remove the CC limit, so they can invest in potential manufacturing plants in Bangladesh, and introduce more of their products. Honestly, I kinda feel jealous seeing Indians enjoy their Multistrada and KTM 1290cc Super Dukes. Bangladesh's aren't allowed anything over 165cc lawl.

Motor vehicle consumption is expected to rise in this decade, but not by a huge amount. The government is thinking of allowing the export of 500CC motorcycles by 2024 but totally banned for the domestic market LMFAO.

 

[MH.Yang]

Excessive foreign exchange reserves are not a good thing.

1. With the increase of foreign exchange reserves, the central bank needs to issue additional local currency equivalent. If foreign exchange reserves are too high, it is likely to cause inflation. In some countries, this is even the biggest factor in the increase in inflation.

2. The increase of foreign exchange reserves will lead to the pressure of domestic currency appreciation. If the domestic currency appreciates, it will lead to the rise of export commodity prices, which will weaken the competitiveness of manufacturing industry.

3. The rate of return on investment in foreign exchange reserves is low, so excessive foreign exchange reserves will lead to more loss of investment income.

BTW: Excessive foreign exchange reserves will not increase the preferential loans of the IMF. On the contrary, according to the regulations of the IMF, countries with increased foreign exchange reserves due to trade surplus will be reduced their right to low interest loans.