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Remittance and foreign currency reserves of Bangladesh


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বিদেশ থেকে প্রবাসীদের পাঠানো রেমিট্যান্সে প্রণোদনা সহায়তা ২ শতাংশ থেকে বাড়িয়ে ২.৫ শতাংশ নির্ধারণ করেছে সরকার।

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https://thefinancialexpress.com.bd/economy/bangladesh/bangladesh-bank-devalues-taka-to-boost-exports-remittances-1641986767

Bangladesh Bank devalues taka to boost exports, remittances

Published:  January 12, 2022 17:26:07

The exchange rate of the Taka has depreciated by 25 per cent in the last 13 years against the US dollar, and fell to an unprecedented Tk 86 against the dollar at the start of the week, as the central bank looks to adopt a policy of devaluation to boost exports and remittances.

Devaluation can boost a country’s exports by making its products more competitive in international trade.

As the country has adequate forex reserves of over $44 billion, Bangladesh Bank (BB) officials suggest not to be worried of taka depreciation. But the common people may have to bear the brunt of higher prices due to the impact of taka depreciation, reports UNB.

In the last five months, the Bangladeshi currency has lost its value by Tk 1.20 or 1.41 per cent against the US dollar.

The taka was devalued once again by 20 poisa on the inter-bank exchange market on Sunday against the dollar. Despite holding a stable position for a month and a half, the depreciation occurred on Sunday.

On Thursday, the last day of last week, one had to spend Tk 85.80 per dollar in the interbank currency market; It took Tk 86 on Sunday. Banks are selling dollars at Tk 4/5 more. The dollar is being sold at Tk 91.5 at kerb (open) market.

State-owned Sonali Bank and Janata Bank sold dollars at Tk 90.50 on Sunday. Agrani Bank has sold at Tk 90.30. Outside the bank, up to Tk 91.5 per dollar has been sold in the karb market, sources said.

Earlier, the BB purchased $ 8.0 billion from different banks in the fiscal year of 2020-21 to maintain the exchange rate of taka, when import order decreased severely for worsening pandemic.

The central bank, however, supplied $2.50 billion so far in the current fiscal year as the import demand increased by 50 per cent after the pandemic situation.

However, the value of Bangladeshi taka has depreciated every year except one year during the last 13 years. Bangladesh trades internationally by US dollar. Despite adopting a 'conservative policy', the value of taka has decreased by about 25 per cent against that dollar in the last 13 years.

In other words, a consumer would cost Tk 100 to buy a product or service from the international market 13 years ago, now it costs Tk 125 to buy the same product, shows the data of Bangladesh Bank. The value of taka has fallen more in the private transaction of the US dollar during this period.

In February 2009, one had to spend Tk 69 to buy a US dollar, which now stands at Tk 86.

Former adviser of caretaker government Dr. Mirza ABM Azizul Islam said that import demand has increased in the post lockdown time as the industrial production shows a rising trends.

The price increase of LNG and petroleum products in the global market is also another cause to raise the dollar demand as Bangladesh uses USD to meet all kinds of import payments, he said.

The country’s forex reserves remain at the highest ever, export income and inward remittance flow are also good, so there is no reason to be worried about weakening taka in this stage, but a cautionary measure is to be taken for stabilising the price of local commodity markets, Mirza Aziz said.

Former governor of BB Dr. Salehuddin Ahmed said that the exporters become happy if taka becomes weak, but it creates pressure to raise commodity prices in the domestic market.

He said the central bank sometimes relaxed policy to increase dollar exchange rate so that the expatriates and exporters could send more forex income to the country.

The exchange rate of the US dollar against the Bangladeshi taka has been fixed by the government since independence. The taka was declared convertible (exchangeable) for enhancing foreign trade on March 24, 1994. And in 2003, this exchange rate was made floating. From then on, the national currency is no longer devalued or revalued by declarations.

However, although the exchange rate was floating, it was not entirely market-based. The central bank has always had indirect control over it through its buying and selling of dollars, in what is called a ‘managed float’.

 

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https://thefinancialexpress.com.bd/economy/bangladesh/remittance-inflow-in-april-reaches-209b-1651765393

Remittance inflow in April reaches $2.09b

Published:  May 05, 2022 21:43:13

Bangladesh received $2.09 billion in remittances in April, the highest amount in a single month of the current fiscal year.

Bangladesh Bank (BB) published the updated information on Thursday (May 05), reports UNB.

According to the sector insiders, expatriates usually send more remittances to the country on the occasion of Eid festival.

In its continuation, the flow of remittances has increased since the beginning of Ramadan.

Besides, the government is now giving a 2.5 per cent incentive on remittances.

According to the BB, five state-owned commercial banks received $354.89 million in April, private commercial banks received remittances of $1612.74 million, foreign banks $7.35 and two specialized banks $34.51 million.

Bangladesh received $1.85 billion in remittances in March of the fiscal year 2021-22.

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https://www.ittefaq.com.bd/596311/দেড়-বছরে-সর্বনিম্ন-পর্যায়ে-বৈদেশিক-মুদ্রার

দেড় বছরে সর্বনিম্ন পর্যায়ে বৈদেশিক মুদ্রার রিজার্ভ

আকু পেমেন্টের পর রিজার্ভ দাঁড়াল ৪ হাজার ১৯০ কোটি ডলারে

ইত্তেফাক রিপোর্ট

প্রকাশ : ০৮ মে ২০২২, ০৪:৫৬

বাংলাদেশের বিদেশি মুদ্রার রিজার্ভ ৪২ বিলিয়ন ডলার বা ৪ হাজার ২০০ কোটি ডলারের নিচে নেমে এসেছে। সম্প্রতি এশিয়ান ক্লিয়ারিং ইউনিয়নের (আকু) মার্চ-এপ্রিল মেয়াদের ২২৪ কোটি ডলারের আমদানি বিল পরিশোধ করার পর রিজার্ভের আকার ৪ হাজার ১৯০ কোটি ডলারে নেমে এসেছে। 

দেশীয় মুদ্রায় যার পরিমাণ প্রায়

৩ লাখ ৬০ হাজার কোটি টাকা। যা গত দেড় বছরের মধ্যে সবচেয়ে কম। এর আগে ২০২০ সালের নভেম্বরে রিজার্ভের পরিমাণ ছিল ৪ হাজার ১২৬ কোটি ডলার। বর্তমানের আমদানির খরচ হিসাবে এই রিজার্ভ দিয়ে পাঁচ মাসের কিছু বেশি সময়ের আমদানি ব্যয় মেটানো সম্ভব হবে। অথচ সাত-আট মাস আগেও ১০ থেকে ১১ মাসের আমদানি খরচ মেটানোর রিজার্ভ ছিল বাংলাদেশ ব্যাংকে।

বাংলাদেশ ব্যাংকের তথ্যানুযায়ী, করোনা পরিস্থিতি স্বাভাবিক হতে শুরু করায় আমদানি ব্যয়ও বেড়েছে। ২০২০ সালের মার্চে দেশে করোনার প্রাদুর্ভাব শুরুর আগে মাসে আমদানি খাতে গড়ে ৪ থেকে সাড়ে ৪ বিলিয়ন ডলার খরচ হতো। করোনার মধ্যে তা কমে গড়ে ৩ থেকে সাড়ে ৩ বিলিয়ন ডলারে নেমে আসে। অন্যদিকে চলতি ২০২১-২২ অর্থবছরের প্রথম মাস জুলাইয়ে ৫ দশমিক ১৪ বিলিয়ন ডলারের পণ্য আমদানি হয়। আগস্টে তা বেড়ে ৬ দশমিক ৫৮ বিলিয়ন ডলারে ওঠে। সেপ্টেম্বরে এর পরিমাণ দাঁড়ায় ৭ বিলিয়ন ডলারে।

অক্টোবরে পণ্য আমদানিতে ব্যয় হয় ৭ দশমিক ১১ বিলিয়ন ডলার। নভেম্বরে তা বেড়ে ৭ দশমিক ৮৫ বিলিয়ন ডলারে উঠে। ডিসেম্বরে তা আরো বেড়ে ৮ দশমিক ৪৪ বিলিয়ন ডলার অতিক্রম করে। জানুয়ারি মাসে ৮ দশমিক ৩৩ বিলিয়ন

গেল এপ্রিল মাসে দেশে ২০০ কোটি ৯৫ লাখ ডলারের সমপরিমাণ রেমিট্যান্স এসেছে, টাকার অঙ্কে যার পরিমাণ প্রায় ১৭ হাজার ২৮১ কোটি টাকা। গত বছরের এপ্রিল মাসের পর এত রেমিট্যান্স এলো দেশে।

২০২১ সালের এপ্রিলে এসেছিল ২০৬ কোটি ৭৬ লাখ ডলার। তার আগের দুই মাস ডিসেম্বর ও জানুয়ারিতে এসেছিল যথাক্রমে ১৬৩ কোটি ৬ লাখ ও ১৭০ কোটি ৪৫ লাখ ডলার। উল্লেখ্য, গত বছরের মে মাসে ২১৭ কোটি ১০ লাখ ডলার রেমিট্যান্স এসেছিল দেশে। এরপর গত ১১ মাসের কোনো মাসেই ২০০ কোটি ডলারের বেশি রেমিট্যান্স দেশে আসেনি।

ডলারের বিভিন্ন ধরনের পণ্য আমদানি হয়েছে। সবশেষ ফেব্রুয়ারি মাসে আমদানিতে ব্যয় হয়েছে ৮ দশমিক ৩২ বিলিয়ন ডলার। বিশ্লেষকদের মতে, আমদানি বাড়ার কারণেই রিজার্ভ কমছে। তাছাড়া প্রবাসীদের পাঠানো রেমিট্যান্স প্রবাহ কমে যাওয়ার ধাক্কাও রিজার্ভে পড়েছে।

উল্লেখ্য, বাংলাদেশ, ভুটান, ভারত, ইরান, মিয়ানমার, নেপাল, পাকিস্তান, শ্রীলঙ্কা ও মালদ্বীপ বর্তমানে আকুর সদস্য। এই দেশগুলো থেকে বাংলাদেশ যেসব পণ্য আমদানি করে তার বিল দুই মাস পরপর আকুর মাধ্যমে পরিশোধ করতে হয়। আন্তর্জাতিক মানদণ্ড অনুযায়ী, একটি দেশের কাছে অন্তত তিন মাসের আমদানি ব্যয় মেটানোর সমপরিমাণ বিদেশি মুদ্রা মজুত থাকতে হয়। গত জানুয়ারি ও ফেব্রুয়ারির পণ্য আমদানি খরচের হিসাবে বর্তমানের রিজার্ভ দিয়ে পাঁচ মাসের আমদানি ব্যয় মেটানো যাবে।

বাংলাদেশ ব্যাংক সংশ্লিষ্টরা জানান, করোনার প্রভাব কাটতে শুরু করায় অর্থনীতিও ঘুরে দাঁড়াচ্ছে। ফলে মূলধনি যন্ত্রপাতি, শিল্পের কাঁচামালসহ সব ধরনের পণ্যের আমদানি বেড়েছে। তাছাড়া করোনার পরে নিত্যপণ্যের দামও বাড়ছে। পরিবহন খরচ বেড়ে যাওয়ায় আমদানি পণ্যের খরচও বেড়েছে। জ্বালানি তেল ও খাদ্যপণ্যের মূল্যবৃদ্ধির সঙ্গে আমদানি খরচ বেড়ে গেছে। সব মিলিয়ে আমদানিতে রিজার্ভ থেকে আগের চেয়ে বেশি খরচ হচ্ছে।

কেন্দ্রীয় ব্যাংকের তথ্যে দেখা যায়, চলতি ২০২১-২২ অর্থবছরের জুলাই-ফেব্রুয়ারি সময়ে ৫৮ দশমিক ৭৭ বিলিয়ন ডলার বা ৫ হাজার ৮৭৭ কোটি ডলারের বিভিন্ন ধরনের পণ্য আমদানি করেছেন দেশের ব্যবসায়ী-উদ্যোক্তারা, যা গত অর্থবছরের একই সময়ের চেয়ে ৪৬ দশমিক ৭০ শতাংশ বেশি।

তাছাড়া রেমিট্যান্স প্রবাহের তথ্যে দেখা যায়, চলতি অর্থবছরের ১০ মাসে অর্থাৎ জুলাই থেকে এপ্রিল সময়ে ১ হাজার ৭৩০ কোটি ডলারের রেমিট্যান্স পাঠিয়েছেন প্রবাসীরা। এই অঙ্ক গত অর্থবছরের একই সময়ের চেয়ে ১৬ দশমিক ২৪ শতাংশ কম। তবে ঈদকে কেন্দ্র করে গত এপ্রিল মাসে রেমিট্যান্সে গতি ফিরেছে।

 

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https://www.tbsnews.net/economy/forex-reserve-falls-41b-mark-higher-imports-lower-remittance-inflow-417998

TBS Report

11 May, 2022, 10:20 pm

Last modified: 11 May, 2022, 10:40 pm

Forex reserve falls to $41b-mark with higher imports, lower remittance inflow

After paying the Asian Clearing Union $2.24 billion on Tuesday, the reserve stood at $41.95 billion which central bank officials believe will meet the liabilities of imports for the next six months.

forex_infographic.png?itok=ZkNZP86g&time

 

Bangladesh's forex reserve, which witnessed a rapid surge during the pandemic, has now fallen to the $41 billion-mark thanks to higher imports and lower remittance inflow. This has caused concerns for the country in the matter of spending foreign currencies.

After paying the Asian Clearing Union $2.24 billion on Tuesday, the reserve stood at $41.95 billion which central bank officials believe will meet the liabilities of imports for the next six months.

In such a situation, the central bank on Wednesday took several strict steps to keep holding the foreign currency reserve by reducing spending on development projects. It decided to delay payments for at least six months for the projects that have no urgency right now.

Earlier on Tuesday, the central bank instructed the scheduled banks to keep the minimum 50% margin against letters of credit (LC), which is double the previous margin set only a month ago.

Meanwhile, Prime Minister Sheikh Hasina has ordered the authorities not to approve government officials' travels abroad except in emergencies.

The forex reserve has been on a gradual rise in the past couple of years, according to the Bangladesh Bank data. It was some $15 billion in 2013 and jumped to $36 in 2019.

With the rapid higher remittance inflow during the pandemic, the reserve hit an all-time high of $48.06 billion in August 2021. However, the reserve has been on the decline since then, due mainly to increased imports amid the ease of the pandemic.

In the nine months (July-March) of the current fiscal year (FY22), the import costs increased by 43.86% to $61.5 billion, leading to a wide trade deficit, as exports during the period surged by only 32.92% to $36.62 billion.  

In the meantime, remittance inflow decreased by 17.74% to $15.30 billion.

By international standards, a country has to have reserves equal to three months of import expenditure. With the amount of reserves that Bangladesh has now, it is possible to pay import costs for at least 6 months at the rate of $6 billion worth of imports per month on average.

To maintain a healthy reserve, the Bangladesh Bank also raised the interbank exchange rate by Tk0.25 to Tk86.7 per dollar on Monday, the second increase in less than two months. It is the rate between two banks. Customers have to pay at least Tk7 more per dollar.

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https://thefinancialexpress.com.bd/views/opinions/the-seesaw-of-forex-trade-1653722424

The seesaw of forex trade

 Sheikh Mohammad Danial | Published:  May 28, 2022 13:20:24 | Updated:  May 28, 2022 13:22:30

A seesaw allows a short-term perpetual motion of equal distribution of highs and lows for both ends. If we take a closer look at how taka’s rate influences trade, the seesaw has been more in favour of the buyers of foreign exchange (forex) compared to its sellers in recent times.

Of late, it has become apparent that the seesaw of the forex trade in Bangladesh has a more powerful third party, which dominates the scale and advantages of it.

In theory, the Bangladesh taka or BDT is a free-floated currency. In reality, however, it is a managed floating or pegged floating regime.

The real effective exchange rate (REER) is the weighted average of a country's currency in relation to an index or basket of other major currencies. The weights are determined by comparing the relative trade balance of a country's currency against that of each country in the index.

The real effective exchange rate of taka in 2021 averaged 110 BDT to 1.0 USD, whereas bank rates were between 84-86 BDT to 1.0 USD. This means, those who were spending and buying USD were enjoying a benefit of 25-26 BDT per USD.

The flip side of this equation is that dollar earners of Bangladesh were being stiffed by that very huge margin. The seesaw of currency was tilted towards those who would spend and buy dollars compared to those who would earn and sell the forex.

The main spenders and buyers of the greenback are importers, who include even the government, as well as Bangladeshi international medical and leisure tourists. The main earners of forex in the country are exporters and remitters, who also include government departments such as peacekeeping forces.

Until the year 2021, it seemed that exporters and remitters were getting a raw deal as they were being given a forex rate that indirectly taxed them 25-26 BDT per USD only to indirectly subsidise importers and global tourists from Bangladesh.

However, the system seems to have become unmanageable in recent times as banks are overcharging importers to settle their import bills at a substantially higher rate than the one set by the regulator, Bangladesh Bank, without having to pay a higher rate to exporters and remitters.

If 2021 saw the seesaw to have become lopsided in favour of importers, the current 2022 has seen the forex seesaw being dismantled and converted into what seems to be a slide towards banks and other financial institutions.

If our currency was truly free-floated, many feel it could trigger inflation that might be heavy on the poorer segment of society, for whom the government can always subsidise directly. That would be more effective than subsidising the entirety of all imports, as we must subsidise food, transport, education and shelter for the less-advantageous instead of subsidising cowhead milk, Mercedes SUVs and other luxury imports.

We must not be a nation that privileges the rich at the cost of hard-working remitters and exporters. If not anything else, we should build a fairer economic society where the forex seesaw can be a balanced equaliser.

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https://www.dhakatribune.com/business/2022/05/30/expatriates-send-165-bn-in-26-days-of-may

Expatriates send $1.65 bn in 26 days of May

Bangladesh Bank data shows that foreign exchange reserve is increasing thanks to growing inward remittance in the recent months despite huge import payment demand

UNB

May 30, 2022 4:16 PM

The ministry of finance is expecting the growth of inward remittance by 16% in the fiscal year FY2022-23.

Bangladesh has, meanwhile, received inward remittance of $1654.94 million (1.65 billion) in 26 days of May.

The ministry in a report said that over 5.5 lakh workers went abroad in the post-Covid-19 period from the country. The trend of manpower export will continue as many countries of the Middle East and Europe are hiring more workers to meet the huge non-skill and semi-skilled manpower.

Besides, Qatar's football World Cup preparations have also created huge job demand in the service sector in the Middle East.

Bangladesh Bank data shows that foreign exchange reserve is increasing thanks to growing inward remittance in the recent months despite huge import payment demand.

If the remittances reach this trend the amount of inward remittance is likely to cross $2 billion in May, said Md Serajul Islam, executive director and spokesperson of Bangladesh Bank.

The remittance inflow will increase in the next month ahead Eid-ul-Azha, as the expatriates are expected to send additional money on the occasion of the festival, he said.

He said that remittance inflow has increased due to the ease of incentive delivery process and devaluation of the Bangladeshi taka.

Bangladesh has received $189,662.71 million or $18.97 billion from June 1 to May 26 of FY 22.

 

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সর্বোচ্চ রেমিট্যান্স আসছে সংযুক্ত আরব আমিরাত থেকে

এ বছরের মে মাসে সংযুক্ত আরব আমিরাত থেকে সর্বোচ্চ ৩৩ কোটি ৮৬ লাখ মার্কিন ডলার বৈদেশিক মুদ্রা দেশে এসেছে

 

ট্রিবিউন ডেস্ক

প্রকাশিত: ০৮:৪১ রাত জুন ০৭, ২০২২

মে মাসে সংযুক্ত আরব আমিরাতের প্রবাসী বাংলাদেশিরা সর্বোচ্চ রেমিট্যান্স পাঠিয়েছেন। দেশটি থেকে গত মে মাসে ৩৩ কোটি ৮৬ লাখ মার্কিন ডলারের সমপরিমাণ বৈদেশিক মুদ্রা এসেছে।

মঙ্গলবার (৭ জুন) বাংলাদেশ ব্যাংকের সর্বশেষ প্রতিবেদনে এ তথ্য উঠে এসেছে। দেশটি থেকে আসা প্রবাসী আয়ের এই অঙ্ক এযাবতকালের মধ্যে সর্বোচ্চ।

স্বাধীনতার পর সৌদি আরব থেকেই বাংলাদেশ সর্বোচ্চ রেমিট্যান্স পেয়ে এসেছে। এ বছরও সৌদি আরব থেকে দ্বিতীয় সর্বোচ্চ রেমিট্যান্স পেয়েছে বাংলাদেশ। গত মে মাসে দেশটি থেকে ৩২ কোটি ৯৯ লাখ ডলার রেমিট্যান্স এসেছে।

অন্যদিকে, একই সময়ে তৃতীয়, চতুর্থ ও পঞ্চম সর্বোচ্চ রেমিট্যান্স এসেছে যথাক্রমে মার্কিন যুক্তরাষ্ট্র থেকে ২৭ কোটি ৩২ লাখ ডলার, যুক্তরাজ্য থেকে ১৬ কোটি ৬৫ লাখ ডলার এবং কুয়েত থেকে ১৪ কোটি ৭০ লাখ ডলার।

প্রতিবেদন থেকে আরও জানা গেছে, এ বছরের মে মাসে বিভিন্ন দেশে অবস্থানরত প্রবাসী বাংলাদেশিরা মোট ১৮৮ কোটি ৫৩ লাখ মার্কিন ডলারের রেমিট্যান্স পাঠিয়েছেন।

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https://www.thedailystar.net/business/news/remittance-falls-2103-billion-3062741

Remittance falls to $21.03 billion

Star Business Report

Sun Jul 3, 2022 05:31 PM Last update on: Sun Jul 3, 2022 05:41 PM

Inward remittance to Bangladesh fell by 15 per cent year-on-year to $21.03 billion in the just-concluded fiscal year, intensifying pressure on the country's macroeconomy, central bank data showed today.

In the 2020-21 fiscal year, money sent home by migrant workers had surged to $24.77 billion.

Remittance flow has decreased in the last fiscal year as many Bangladeshi migrants sent their money through the hundi system, an illegal cross-boundary system to transact money, said an official of the central bank.

The inflow went up in FY2021 since the hundi system was largely inoperative due to the lockdown enforced worldwide.

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Remittance to rise significantly next fiscal year

Star Business Report

Thu Jun 30, 2022 05:27 PM Last update on: Thu Jun 30, 2022 05:51 PM

Remittance inflow may rebound significantly in Bangladesh in 2022-23 fiscal year as increased number of people flew abroad for jobs, Bangladesh Bank (BB) Governor Fazle Kabir said today.

The forecast comes at a time when remittance earnings, one of the key pillars of Bangladesh's economy, dipped 16 per cent year-on-year to $19.19 billion in July-May period of the current fiscal year, weakening the country's foreign exchange reserve amid surging import payment.

In July-May period of 2021-22 fiscal year, 8.77 lakh workers left for jobs abroad, nearly four times of 2.31 lakh in the same period a year ago, according to data of the Bureau of Manpower, Employment & Training.

Bangladesh logged nearly $25 billion in remittances in 2020-21 fiscal year, posting a 36 per cent year-on-year growth, according to Bangladesh Bank.

 

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ঈদের আগে রেমিট্যান্সে ঢল

৬ দিনে এল ৬ হাজার ৯শ কোটি টাকা

জ্যেষ্ঠ প্রতিবেদক

০৭ জুলাই ২০২২, ০৮:০৩ পিএম

আগামী রোববার পবিত্র ঈদুল আজহা। মুসলমানদের অন্যতম বড় এ উৎসবকে কেন্দ্র ক‌রে বে‌ড়ে‌ছে রে‌মিট্যান্স প্রবাহ। কেন্দ্রীয় ব্যাংকের সবশেষ তথ্য বল‌ছে, ঈদের আগে ছয় দি‌নে ৭৪ কো‌টি ১০ লাখ মার্কিন ডলারের রেমিট্যান্স পা‌ঠি‌য়ে‌ছেন প্রবাসী বাংলা‌দেশিরা। 

দেশীয় মুদ্রায় বর্তমান বিনিময় হার হিসাবে (প্রতি ডলার ৯৩ টাকা ৪৫ পয়সা) এ অর্থের পরিমাণ ৬ হাজার ৯২৪ কোটি ৬৪ লাখ টাকা। গড়ে প্রতিদিন এক হাজার ১৫৪ কোটি টাকা এসেছে।

এ বিষয়ে জানতে চাইলে বাংলাদেশ ব্যাংকের নির্বাহী পরিচালক ও মুখপাত্র মো. সিরাজুল ইসলাম ঢাকা পোস্টকে বলেন, ঈদের আগে সবসময়ই রেমিটেন্স প্রবাহ বাড়ে‌। প্রবাসীদের পরিবার-পরিজন যেন ঈদ উৎসব সুন্দরভাবে পালন করতে পারে এবং কোরবানির পশু কিনতে পারে, সেজন্য তারা দেশে অর্থ পাঠাচ্ছেন। এ ছাড়া এখন ব্যাংকের মাধ্যমে রেমিট্যান্স পাঠালে বিনিময় হারও ভালো পাওয়া যাচ্ছে। সব মি‌লি‌য়ে ঈদুল আজহায় আগে রে‌মিট্যান্স বে‌ড়ে‌ছে।

এদিকে কেন্দ্রীয় ব্যাংকের তথ্য অনুযায়ী, সদ্য বিদায়ী ২০২১-২২ অর্থবছরে প্রবাসী বাংলাদেশিরা ব্যাংকিং চ্যানেলের মাধ্যমে ২ হাজার ১০৩ কোটি ১৭ লাখ (২১ দশমিক ৩ বিলিয়ন) মার্কিন ডলারের রেমিট্যান্স দেশে পাঠিয়েছেন, যা আগের অর্থবছরের চেয়ে ১৫ দশমিক ১১ শতাংশ কম।

২০২০-২১ অর্থবছরে দুই হাজার ৪৭৭ কোটি ৭৭ লাখ (২৪ দশমিক ৭৭ বিলিয়ন) ডলার রেমিট্যান্স পাঠিয়েছিলেন প্রবাসীরা। এ ছাড়া গত জুন মাসে ১৮৩ কো‌টি ৭২ লাখ ডলারের রেমিট্যান্স এসেছে, যা আগের মাসের চেয়ে ৪ কোটি ৮০ লাখ ডলার কম। চলতি বছরের মে মাসে রেমিট্যান্স এসেছিল ১৮৮ কোটি ৫৩ লাখ ডলার। আর আগের বছরের জুনের মাসের তুলনায় ১০ কোটি ৩৫ লাখ ডলার কম। গত বছর মে মাসে প্রবাসীরা পাঠিয়েছিলেন ১৯৪ কোটি ৮ লাখ ডলার।   

এসআই/আরএইচ

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ঈদের ৭ দিনে এসেছে প্রায় ৮৫০০ কোটি টাকার রে‌মিট্যান্স

জ্যেষ্ঠ প্রতিবেদক

১৩ জুলাই ২০২২, ০১:০৫ পিএম

পবিত্র ঈদুল আজহা উপলক্ষে কোরবানির পশু কেনাসহ পরিবার-পরিজনের বাড়তি খরচের কথা মাথায় রেখে বেশি বেশি অর্থ পাঠিয়েছেন প্রবাসী বাংলাদেশিরা। ফলে ঈদ ঘিরে বেড়েছে রেমিট্যান্স প্রবাহ।

কেন্দ্রীয় ব্যাংকের সবশেষ তথ্য বল‌ছে, ঈদের আগের ৭ দিনে ৯০ কো‌টি ৯৩ লাখ মার্কিন ডলারের সমপরিমাণ বৈদেশিক মুদ্রার রেমিট্যান্স ব্যাংকিং চ্যানেলে দেশে এসেছে। দেশীয় মুদ্রায় বর্তমান বিনিময় হার হিসাবে (প্রতি ডলার ৯৩ টাকা ৪৫ পয়সা) এ অর্থের পরিমাণ ৮ হাজার ৪৯৭ কোটি ৪০ লাখ টাকা। এ হিসাবে ঈদের আগে প্রতিদিন গড়ে ১২শ কোটি টাকার বেশি অর্থ পাঠিয়েছেন প্রবাসীরা।

এ বিষয়ে বাংলাদেশ ব্যাংকের নির্বাহী পরিচালক ও মুখপাত্র মো. সিরাজুল ইসলাম বলেন, ঈদ বা যেকোনো উৎসবে প্রবাসীরা দেশে বেশি বেশি রেমিটেন্স পাঠিয়ে থাকেন। ঈদুল আজহায় কোরবানির পশু কেনাসহ বিভিন্ন খরচের কথা বিবেচনা করেই রেমিট্যান্স পাঠিয়েছেন তারা। আশা করছি রেমিট্যান্স প্রবাহ অব্যাহত থাকবে।   

কেন্দ্রীয় ব্যাংকের তথ্য অনুযায়ী, চলতি বছরের প্রথম মাস জানুয়ারিতে রেমিট্যান্স এসেছিল ১৭০ কোটি ৪৫ লাখ ডলার। ফেব্রুয়ারিতে আসে ১৪৯ কোটি ৪৪ লাখ, মার্চে ১৮৫ কোটি ৯৭ লাখ, এপ্রিলে ২০১ কোটি ৮ লাখ,  মে মাসে আসে ১৮৮ কোটি ৫৪ লাখ ডলার এবং সবশেষ জুন মাসে এসেছে ১৮৩ কো‌টি ৭২ লাখ ডলার।

তথ্য বলছে, সদ্য বিদায়ী ২০২১-২২ অর্থবছরে প্রবাসী বাংলাদেশিরা ব্যাংকিং চ্যানেলের মাধ্যমে ২ হাজার ১০৩ কোটি ১৭ লাখ (২১ দশমিক ৩ বিলিয়ন) মার্কিন ডলারের রেমিট্যান্স দেশে পাঠিয়েছেন, যা আগের অর্থবছরের চেয়ে ১৫ দশমিক ১১ শতাংশ কম। 

২০২০-২১ অর্থবছরে দুই হাজার ৪৭৭ কোটি ৭৭ লাখ (২৪ দশমিক ৭৭ বিলিয়ন) ডলার রেমিট্যান্স পাঠিয়েছিলেন প্রবাসীরা। এ ছাড়া গত জুন মাসে ১৮৩ কো‌টি ৭২ লাখ ডলারের রেমিট্যান্স এসেছে, যা আগের মাসের চেয়ে ৪ কোটি ৮০ লাখ ডলার কম। চলতি বছরের মে মাসে রেমিট্যান্স এসেছিল ১৮৮ কোটি ৫৩ লাখ ডলার।  

বৈদেশিক মুদ্রার সংকট নিরসনে রেমিট্যান্স প্রবাহ বাড়াতে ডলারের বিপরীতে টাকার মান ধারাবাহিকভাবে কমাচ্ছে কেন্দ্রীয় ব্যাংক। এখন আন্তঃব্যাংক মুদ্রাবাজারে প্রতি ডলারে কিনতে খরচ করতে হচ্ছে ৯৩ টাকা ৪৫ পয়সা। অর্থাৎ বাংলাদেশ ব্যাংক সরকারি আমদানি বিল মেটাতে এই দরে ব্যাংকগুলোর কাছে ডলার বিক্রি করছে। নিয়ম অনুযায়ী এটাই ডলারের আনুষ্ঠানিক দর। এই রেটেই রেমিট্যান্সের বিনিময় করা হয়।

তবে বিভিন্ন ব্যাংক ও কার্ব মার্কেটে খোঁজ নিয়ে জানা গেছে, আজকে ব্যাংকগুলো আমদানি বিলের জন্য নিচ্ছে ৯৪ থেকে ৯৫ টাকা, নগদ ডলার বিক্রি করছে ৯৬ থেকে ৯৭ টাকায় আর ব্যাংকের বাইরে খোলাবাজার বা কার্ব মার্কেটে ডলার বিক্রি হচ্ছে ৯৮ থেকে ৯৯ টাকায়।

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https://www.thedailystar.net/business/news/forex-reserve-slips-below-40b-3068581

Forex reserve now below $40 billion

Star Business Report

Tue Jul 12, 2022 04:53 PM Last update on: Tue Jul 12, 2022 05:32 PM

Foreign exchange reserves in Bangladesh have slipped below $40 billion after the Bangladesh Bank cleared the import payments to the Asian Clearing Union (ACU).

The country settled import payments worth $1.99 billion with the ACU last week, plummeting the reserves to $39.80 billion today for the first time in nearly two years. The reserves stood at $46.15 billion in December last year.

The ACU is an arrangement through which participating countries settle import payments for intra-regional transactions.

Bangladesh, Bhutan, India, Iran, the Maldives, Myanmar, Nepal, Pakistan and Sri Lanka are members of the Tehran-headquartered ACU. The central banks of the countries have to make the payments every two months.

The reserves have been under-stressed in recent months as exports and remittance flow failed to keep pace with blistering import bills.

Between July and May last fiscal year, imports increased to $75.40 billion, up 39 per cent year-on-year when exports grew 33 per cent to $44.58 billion.

In addition, remittances contracted in 2021-22, the first time in six years, as many remitters opted for the informal channels to send their money. The inflow stood at $21.03 billion.

The central bank is now injecting US dollars on a regular basis into the money market, helping banks settle import bills.

It supplied a record $7.62 billion in the last fiscal year of 2021-22 and $209 million in the current fiscal year.

Still, the BB has failed to stop the depreciation of the exchange rate of the local currency. The taka traded at Tk 93.45 to a dollar on Thursday compared to Tk 84.80 a year ago.

 

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https://thefinancialexpress.com.bd/economy/bangladesh/bangladesh-receives-164b-remittances-in-21-days-of-july-1658755031

Bangladesh receives $1.64b remittances in 21 days of July

Published:  July 25, 2022 19:17:11 | Updated:  July 26, 2022 08:45:05

Bangladesh received US$1.643 billion inward remittance till July 21, thanks to Eid-ul-Azha when Bangladeshi migrants sent more money to families to celebrate one of the biggest festivals for Muslims, according to data from Bangladesh Bank.

It means, on average, the expatriates sent $78.22 million in remittance into the country during July 01-21, the opening month of the fiscal year 2022-23.

In June, the last month of the fiscal year, the expatriates sent home $1.83 billion in remittance through the banking channel, reports UNB citing BB figures on Monday.

Bangladesh received the highest $24.77 billion remittance in FY21, amid global travel restrictions amid Covid-19 pandemic.

In FY22 remittance income fell to $21.03 billion following the lifting of travel restrictions and sending of money through unofficial channels, people involved with the issue said.

The sector insiders and experts suspected that around $2.0 billion in remittances entered Bangladesh through unofficial routes despite stimulus incentives offered by the government to use official channels.

Sources said a good number of Bangladeshi workers in the Middle East, Malaysia, the USA and Europe failed to send money through proper baking channels for lack of valid documents.

This led to the increasing use of illegal hundi and other informal channels by the expatriates, they said speaking on conditioned they can't be identified.

According to BB, between July 1 and 21, six state-owned bank received $254.92 million inward remittance, two specialised banks received $27.69 million, and 41 private commercial banks received $1.356 billion while nine foreign commercial banks received $3.94 million.

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https://thefinancialexpress.com.bd/economy/bangladesh/imf-advises-avoiding-forex-misclassification-1658890092

IMF advises avoiding forex 'misclassification'

 SIDDIQUE ISLAM | Published:  July 27, 2022 08:48:12 | Updated:  July 27, 2022 22:43:25

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Bangladesh has assured the International Monetary Fund (IMF) of complying with latest global standards of reporting foreign-exchange reserves, officials say, as an IMF mission mentioned 'miscalculation' of the amount.

The assurance was made in a meeting with an IMF economic appraisal mission, held at the central bank headquarters in Dhaka on July 17.

High-ups of the Bangladesh Bank (BB), including deputy governors Ahmed Jamal, Kazi Sayedur Rahman and A.K.M Sajedur Rahman Khan, were present at the meeting.

The central bankers, at the meeting, informed the mission that Bangladesh would go by IMF's Balance of Payments and International Investment Position Manual Sixth Edition (BPM6) properly in reporting on the country's reserve position in the near future, they added.

Earlier, the Washington-based monetary watchdog had raised the issue through submitting Safeguards Assessment Report, January 10, 2022 to the central bank with the mention of few cases of misclassification of the currency assets, which are not high-quality claims on non-residents readily available for meeting balance-of-payments financing needs.

"We'll examine the issue further giving priority to national interest before complying with the accounting standards," a top central banker told the FE while replying to a query.

The IMF found the central bank having overstated its foreign-exchange reserves by nearly US$7.2 billion end of June 2021 through inclusion of non-reserve assets by underestimating related risks.

The figure of overstatement in the case of official forex reserves now stand at more than $8.0 billion as the central bank has increased the allocation of Export Development Fund (EDF) scheme to $7.0 billion from previous $6.0 billion.

The non-reserve assets as identified by the IMF are foreign-currency loans to local banks worth $6198 million, deposit with a state-owned commercial local bank of $651 million, deposits with the International Islamic Trade Finance Corporation (ITFC) of the Islamic Development Bank Group, worth $288 million, and fixed-income securities below investment grade $60 million.

The IMF recommends an immediate revision of the composition of the official foreign-currency reserves by removing these no-liquid, earmarked and/or not readily available items as they inflate the total amount of forex available to the central bank.

Regarding disbursement of $200 million to the central bank of Sri Lanka as foreign-currency support, the IMF in its report said the reciprocal deposits acquired by the BB under the 2021 swap arrangement with the Central Bank of Sri Lanka after end-June 2021 do not qualify as reserve assets because they are denominated in Sir Lankan rupee, which is not a convertible currency.

The IMF also raised question about BB's involvement in non-core central-banking activities through the financing of the Bangladesh Infrastructure Development Fund (BIDF), saying that such use of official foreign reserves is inconsistent with lending practices.

The BIDF was formed to make lending from the reserves to development projects. The annual investment target from the fund would be no more than $2.0 billion.

The central bank has committed to financing the BIDF using the reserves for up to $2.0 billion per annum for the next five years, on condition that the reserves cover import payments for at least six months, project earnings are in foreign currencies, and a sovereign guarantee is provided.

Bangladesh's foreign-exchange reserves now remained under pressure following higher import-payment obligations alongside lower inflow of remittances in recent months.

Meanwhile, the central bank continued providing its foreign-currency support to the scheduled banks for managing the forex-market volatility that causes recurrent depreciation of the local currency in exchange with the US dollar.

It sold $50 million more directly to two state-owned commercial banks (SoCBs) Tuesday to help them meet the growing demand for the greenback.

On Monday, the central bank sold $132 million to five commercial banks on the same ground. The BB has so far injected $990 million from the reserves directly into commercial banks as liquidity support for settling their import-payment obligations in the current fiscal year (FY), 2022-23.

In FY'22, the central bank sold $7.62 billion from the reserves to the banks for the same purposes.

Bangladesh's forex reserves came down to $39.60 billion Tuesday from $39.61 billion of the previous day - following higher sales of the greenback from the reserves to feed the market.

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https://www.tbsnews.net/economy/forex-reserves-stabilise-40b-now-466438

Jebun Nesa Alo

27 July, 2022, 10:55 pm

Last modified: 28 July, 2022, 02:59 pm

Forex reserves stabilise at $40b, for now

The intensive effort by the Bangladesh Petroleum Corporation (BPC) to hunt dollars to meet its import demand coupled with the suspension of LNG purchase from the international spot market has eased pressure on the country's foreign exchange reserves.

The forex reserves have remained stable between $39 billion and $40 billion this month as the Bangladesh Bank has cut back on dollar sales for importing petroleum products.

The central bank has been selling $50 million to $70 million per day to banks this month, which was over $100 million in June. 

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Prime Minister Sheikh Hasina on Wednesday said Bangladesh would be able to import food for six to nine months with its existing foreign currency reserves.

While addressing the 28th founding anniversary programme of Bangladesh Awami Swechasebak League on Wednesday, the premier, however, mentioned that the government will have to take steps to grow more crops in order to save foreign currency for any emergency.

For the first time in two years, Bangladesh's foreign exchange reserves dropped below $40 billion on 12 July this year, reaching $39.77 billion, after the central bank cleared $1.99 billion in import payments to the Asian Clearing Union (ACU).

But the central bank did not let the reserves come down below $39 billion. 

The foreign exchange reserves stood at $39.49 billion on Wednesday, according to the Bangladesh Bank.

On the other hand, a shortage of US dollars created panic among stakeholders, causing an unusual price hike of cash dollars in the kerb market.

The cash dollar rate surged to a record high Tk112 on Tuesday but fell to Tk108 the following day.

Meanwhile, the LC settlement rate has climbed to Tk104-105 this week, raising import costs which will ultimately fuel inflation. 

While speaking to The Business Standard, a senior executive of the Bangladesh Bank said keeping forex reserves stable was their first priority, not inflation.

Mentioning that surging inflation is now a global phenomenon, he observed that the main focus should be on ensuring the availability of dollars in order to keep economic activities rolling. 

In this perspective, the central bank is taking up all-out measures to cut import expenditures to ease pressure on reserves, he added. 

The BPC has slowed down imports as it is trying to get foreign currency loans to meet its demand for additional dollars in the wake of hikes in petroleum prices in the global market. 

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank, has already approved a $1.4 billion loan to the BPC for this fiscal year, which is almost double the amount, $850 million, received last year.

Now the Petroleum Corporation is negotiating for another $1 billion because of an acute dollar crisis in banks, said its General Manager (finance) Moni Lal Das.

He went on to say that a lender has already agreed to provide $500 million, which will be used to support the additional dollar requirement.

Moreover, the government has recently suspended LNG purchasing from the spot market for the time being, which also has helped save the country's forex reserves. 

On the other hand, overall imports slowed down in June after the Bangladesh Bank tightened the import of luxury goods.  

Imports declined 6% month-on-month this June, according to the central bank's data.

The volume of LC (letter of credit) opening fell to almost half the previous level in most banks in the first week of July, bankers said. 

Meanwhile, Finance Minister AHM Mustafa Kamal has said that stern action will be taken against people trying to artificially increase the dollar price. 

His warning came in a briefing to reporters following a meeting of the Cabinet Committee on Government Purchase in Dhaka on Wednesday.

"Many are making import arrangements by hiking the [dollar] price. Denied by one bank they are moving to another offering a higher price. The government is working to put an end to this," he said.

The dollar crisis will end soon, he said, adding that remittance inflow and exports also will increase this year.

Remittance inflow offers a ray of hope as the country has received $1.64 billion in remittance in the first 21 days of this month, thanks to Eid-ul-Azha when Bangladeshi migrants sent more money home for their families to celebrate the festival, according to data obtained from the Bangladesh Bank.

This June, the last month of fiscal 2021-22, Bangladeshi expatriates sent home $1.83 billion through the banking channel.

A faster devaluation of taka also has contributed to the surge in remittance receipts, observed industry insiders.

The Bangladesh Bank has devalued the local currency thrice this month setting the inter-bank exchange rate at Tk94.70.

In June, exports clocked the $4.90 billion mark – the highest in a single month in the last fiscal year, and the June growth was over 37% when compared to the same month a year ago.

For the first time, Bangladesh's export earnings crossed $52 billion in the just-concluded fiscal 2021-22.

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https://today.thefinancialexpress.com.bd/first-page/policing-forex-mkt-cools-dollar-price-1658944598

Policing forex mkt cools dollar price

BB pits 10 teams against suspected manipulators

 SIDDIQUE ISLAM |  July 28, 2022 00:00:00

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An eventual policing drive against suspected manipulators brought down the overheating cash-dollar price on the open market that hit Tk 112 Tuesday amid growing concerns about Bangladesh's foreign-exchange reserves.

Market operators said the exchange rate of the US currency came down to Tk 108 Wednesday on the kerb market, as the central bank launched the spot monitoring.

The Bangladesh Bank (BB) set ten teams that conducted drives at different moneychanger houses in Dhaka a day after the dollar price showed a quirky rise, giving economists and analysts to talk why and how.

Sources said the crackdown would continue Thursday (today), the day before the weekend, in the regulator's bid to tame the wayward market.

"We'll take actions against moneychangers if found in gross violation of the existing rules and regulations," Md. Serajul Islam, spokesperson for the central bank, told the FE.

Currently, the central bank is empowered to suspend the licence of a moneychanger anytime, without assigning any reason, in case of violation of any rules and regulations governing foreign-exchange transactions.

Earlier, the BB had amended the order for moneychangers aiming to ensure enforcement of such rules and regulations properly.

The moneychangers now submit the transaction reports of only four major currencies - US dollar (USD), Pound Sterling, Euro and Japanese Yen - on a monthly basis to their commercial banks concerned in line with the BB directives.

The commercial banks have already been asked to submit their monthly statements by the 15th of each month to the relevant departments of the central bank.

Currently, 238 moneychangers are operating across the country.

"We sold the cash US dollar at Tk 108 Wednesday," Money Changers' Association of Bangladesh President A K M Ismail Haq told the FE, without elaboration.

A demand-supply mismatch of the US dollar on the money market is the main cause behind the rising trend in cash-dollar rates recently, according to traders.

They say cash dollar is mainly used for medical treatment, education and business purposes.

Sources, however, say the rate of cash dollar normally increases when illegal transactions like smuggling and under-invoicing go up.

And such tricks, according to economists, are related to fund flight from the country that results in erosion of reserves.

However, the central bank continued providing its foreign-currency support to the scheduled banks for managing the forex-market volatility.

It sold $90 million more directly to different banks at market rate on Wednesday to help them meet the growing demand for the greenback.

On Tuesday, the central bank sold $50 million to two state-owned commercial banks on the same ground.

The US dollar was quoted at Tk 94.70 each on the inter-bank market Wednesday, unchanged from the previous level, according to the operators.

The US dollar was quoted at a maximum of Tk 94.75 for the sale of bills for collection, generally known as BC, on the day, unchanged from the previous working day.

Some banks, however, traded the greenback at rates ranging between Tk 94.75 and Tk 105 to their customers for settling import-payment obligations, ignoring their announced rates, they added.

The BB has so far injected $1.08 billion from the reserves directly into commercial banks as liquidity support for settling their import-payment obligations in the current fiscal year (FY), 2022-23.

In FY'22, the central bank sold $7.62 billion from the reserves to the banks for the same purposes.

Bangladesh's forex reserves came down to $39.49 billion on Wednesday from $39.60 billion of the previous day - following higher sales of the greenback from the reserves to feed the market.

 

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https://www.tbsnews.net/economy/remittance-inflow-hits-2-year-high-july-468886

TBS Report

31 July, 2022, 10:20 pm

Last modified: 31 July, 2022, 10:32 pm

Remittance inflow hits 2-year high in July

 

Bangladesh received $2.2 billion in remittance in the first month of the current fiscal year which is the highest in two years.

Earlier in July 2020, expats sent the highest amount of $2.59 billion to the country.

The remittance inflow also grew by 17.56% year-on-year in July, according to the Bangladesh Bank latest data released on Sunday (31 July).

Bangladesh received $1.87 billion in July last year.
 

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