International

Sumit Roy: For the past 20 years or so, China has been buying dollars in international currency markets with its own currency to maintain the yuan’s devaluation and sustain China’s booming manufacturing and export sectors. As a result, China has accumulated trillions upon trillions of dollars which it uses to…

Delwar Hossain: Japan was one of the first nations to provide support in the development of the post-independence war-torn Bangladesh. Japan has been Bangladesh’s major partner since then, especially in the development field, and historically is considered an all-weather friend of Bangladesh. However, the relationship between Bangladesh and Japan is…

IMF team arrives Dhaka Mahfuz Emran: As a condition of International Monetary Fund (IMF) loan, Bangladesh should have foreign exchange reserves of $24.46 billion ($2446 crore) by next June. But at the moment the reserve stands at $31.18 billion (3118 crore) and the usable reserve is $2318 million. Ahead of…

Staff Correspondent: Expatriate Bangladeshis remitted 958.7 million US dollars through legal or banking channels on the occasion of Eid-ul-Fitr. In the local currency, which has an exchange rate of 107 taka per dollar, this equates to a sum of Tk 13,600 crores.In the first 21 days of April, remittances received…

Industry Desk: Potato export from farmers, supported by the Food and Agriculture Organization of the United Nations (FAO), continues to grow, as producers came together yesterday to celebrate another year of success.Four producer co-operatives joined the fourth annual potato export inauguration in Rangpur – the country’s main potato growing region,…

Bangladesh pilgrims will have to spend a minimum of Tk 6.83 lakh to perform hajj under government management this year– around 2.21 lakh more than the previous year. Meanwhile pilgrims under private hajj management will have to spend a minimum Tk 6.57 lakh, around Tk 2 lakh more than 2022. Apart from…

Staff Correspondent: Jewellers on Saturday increased the prices of different carats of gold in local market, said a press release. According to the Bangladesh Jewellers’ Samity, gold prices were raised in line with an increase in prices of the metal in global market.The jewellers said that the price of 22-carat…

Mahfuja Mukul: Almost every development work of the country has more or less foreign currency involvement. Purchase of necessary materials, transportation or consulting costs are to be paid in dollars. The goods of a project from abroad have to be transported by ship or plane. Energy is important there as…

Industry Desk: Bangladesh is finalising deals with Vietnam and India to import a total of 330,000 tonnes of rice as it races to replenish reserves and cool domestic prices, two officials with direct knowledge of the matter.Soaring prices of the staple grain for the country’s 165 million people pose a…

Industry Desk: Bangladesh is set import 500,000 tonnes of wheat at $430 a tonne from Russia in a government-to-government deal as it battles to secure supplies amid surging prices, two government officials with the direct knowledge of matter said yesterday.The south Asian country, among importers hit by disruption to Ukrainian…