Aka Value News Today

The finance costs have at least doubled for the firms that have taken on dollar-denominated loans from external sources owing to the depreciation of the Bangladeshi taka against the American greenback. 

A falling local currency usually translates into higher earnings for exporters since their products become more competitive in the global markets. 

The currency of Bangladesh has depreciated further against the US dollar, hitting Tk 92.95 on the interbank platform yesterday. 

Bangladesh Bank has asked banks to convert major export earnings of businesses into taka immediately as it looks to increase the supply of US dollars in the economy.

Banks today recommended depreciating local currency by nearly Tk 2 against US dollar as they submitted their proposed interbank exchange rates of the taka to the central bank.

The taka faced less depreciation against the US dollar compared to other South Asian currencies in the last one year, eroding the export competitiveness of Bangladesh against its peers.

Dollar to taka exchange: Despite a lot of stress, the Bangladeshi taka remains one of the strong currencies in the region. No doubt, the taka is still overvalued and consequently, it is trying to realign itself with the value of the US dollar through measured depreciation.

>> thank you for the update. right now on msnbc, bobby jindal just wrapped up his news conference, updating reporters on the oil slick creeping its way toward that gulf coast state. he says they are setting up primary lines of defense along the louisiana coastline in areas vulnerable to the oil and that the state is going to do everything it can to protect the coast and thats its not going to wait for the ka value from the federal government. 6800 square miles of federal waters now are closed ...