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Bangladesh Bank Seeks to Calm FX Fears as Taka Hits Record Low
Bangladesh's central bank sought to reassure investors that the nation's foreign-exchange market remains stable and the taka faces no immediate risk of depreciation, even as the currency slid ...
Bangladeshi Taka | BDT | The official currency of Bangladesh
To Our Valued Business Customers, We are pleased to announce that, starting from 16-Sep-2024, our international payments service for corporate clients will be managed by our sister company, Sterling FX. The Currency Club platform will now focus more on private clients, while Sterling FX will continue to cater to institutional business needs. Please note that, aside from being redirected to the Sterling FX website, the following will remain unchanged: You can continue to log in using your existing credentials. You will continue to work with the same points of contact. All our team members are being retained in their current roles. The agreed fixed margins on your account will remain the same. The services we have provided to you thus far will continue to be offered by Sterling FX. The only differences will be slight changes to the interface, such as the website, logo, and color scheme. We are excited to continue doing business with you and greatly appreciate your ongoing partnership. As always should you have any questions, please feel free to get in touch on +44(0) 207 723 7000.
Bangladesh Bank allows Taka Depreciation amid Oil Shock
The Bangladesh Bank has begun allowing a gradual depreciation of the taka against the US dollar from early March, shifting away from its earlier intervention-heavy approach. The move comes as rising global oil prices, triggered by the Iran war, increase import costs and put pressure on foreign exchange reserves.
Bangladesh Bank Allows Gradual Taka Depreciation
The Bangladesh Bank has initiated a measured depreciation of the taka against the US dollar since March, marking a shift from its previous policy of defending the currency through market intervention. This move comes as global energy prices surge following the ongoing conflict in Iran, creating mounting pressures on import payments, foreign exchange reserves, and domestic inflation.
