Analysis: The Seesaw of the forex trade

Sheikh Mohammad DanialA 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 b...

BGMEA team to visit Germany next month

A high-level delegation of BGMEA headed by President Faruque Hassan is scheduled to visit Germany from June 01 to 03 . The delegation will meet high officials of the Federal Ministry for Economic Affairs and Climate Action and the Federal Ministry for Economic Cooperation and Development. They will also attend a Textile Roundtable jointly organised by the Germany Asia-Pacific Business Association (OAV), VFI–German Importers and the Commercial Wing of the Bangladesh Embassy, Berli...

Bangladesh to import 1m tonnes of wheat from India

Bangladesh has a plan to import up to 10 lakh tonnes of wheat from India under government to government contract and necessary steps already have been taken by the concerned food ministry."Bangladesh has sent an off...

Nazrul speaks of liberation, equality for the oppressed: Hasan

Information and Broadcasting Minister and Awami League Joint General Secretary Dr Hasan Mahmud said that the difference between Kazi Nazrul Islam and other poets who enriched Bengali literature was that he spoke for liberation, for equality, for the oppressed. His poems and songs have inspired people. He has been repeatedly imprisoned for writing poetry, and his poems and songs have been confiscated. That is why his literary work has made him unique, that is why Kazi Nazrul Islam is unique from other poets.He made the comments while speaking as the chief guest at a meeting and cultural program organized by Cumilla district administration at the city auditorium premises of Cumilla on Wednesday afternoon on the occasion of the 123rd birth anniversary of national poet Kazi Nazrul Islam.S...

BNP’s Jahidur Rahman takes oath

Cabrera in selection dilemma before FIFA friendly and Asia Cup

Bangladesh national football team’s head coach Javier Fernandez Cabrera inevitably to see a selection dilemma ahead of the FIFA international friendly match and Asia Cup qualifying round matches. Cabreara who shaped his 23-man squad keeping Tarek Kazi, Masuk Miah Jony, Sumon Reza and Matin Miah, players of the Bashundhara Kings are uncertain, as all four vital players of the team had injury during the AFC Cup.If coach will have to bring changes in the squad, will have a huge dilemma in absence of four important performers.Meanwhile, Bangladesh team is to leave Dhaka for Jakarta early hour of May 27 (3:45 am to play their FIFA frirndly international match against Indonesia to take place on June 1.Following the the FIFA friendly in Jakarta, Bangladesh team will go Malaysia to play in the Asia Cup Qualifying round matches to be held in Kuala Lumpur from June 8-14.    In the previous two games of FIFA friendlies, under the newly Spanish coach Cabrera has bitter experiences against Maldives and Mongolia in home and away ground respectively. The Spanish coach Cabrera could not make his journey with happy note with the Bangladesh national team when in his debut match went down to Maldives by 2-0 in Male on March 24 and managed a goalless draw against Mongolia at home ground four days later.However, it would be another big blow for Cabrera if he will have to face stronger opponents than Maldives and Mongolia in the both FIFA friendly and the Asia Cup qualifying round matches in absence of four vital performers. Bangladesh are in the Group E which is c...

PM seeks international support for BDP 2100

While opening an international conference on the Delta Plan 2100 through a videoconference from Ganabhaban Prime Minister Sheikh Hasina on Thursday urged the country’s development partners to he...

Revenue collection posts 15pc growth

As reported by this daily on Tuesday the overall revenue collection by the National Board of Revenue (NBR) during the first 10 months (July-April) of the current fiscal year (FY22) witnessed a healthy growth of 15.21 percent totaling Taka 2,27,641.24...

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