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Slow, steady taka depreciation helps Bangla RMG exports

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The change charge of the taka has depreciated by 25 per cent within the final 13 years towards the US greenback, and fell to an unprecedented Tk 86 towards the greenback originally of this week, because the Bangladesh Financial institution devalued it by 20 paisa on the inter-bank change market on January 9. The devaluation has potential to spice up the nation’s garment exports.

Within the final 5 months, the Bangladeshi foreign money has misplaced its worth by Tk 1.20 or 1.41 % towards the US greenback. Regardless of holding a secure place for a month and a half, the depreciation occurred on Sunday. In February 2009, one needed to spend Tk 69 to purchase a US greenback.

Because the nation has satisfactory foreign exchange reserves of over $44 billion, Bangladesh Financial institution officers counsel to not be apprehensive about taka depreciation, based on Bangladeshi media studies. The plenty, nonetheless, might should face difficulties on account of increased costs ensuing from foreign money depreciation.

The change charge of the taka has depreciated by 25 per cent within the final 13 years towards the US greenback, and fell to an unprecedented Tk 86 towards the greenback originally of this week, because the Bangladesh Financial institution devalued it by 20 paisa on the inter-bank change market on January 9. The devaluation has potential to spice up the nation’s garment exports.

Nonetheless, the worth of taka has depreciated yearly besides one over the last 13 years. Bangladesh trades internationally by US greenback.

Fibre2Fashion Information Desk (DS)



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