Efforts to Stabilize Dollar Rate in Bangladesh and Kenya Amidst Economic Challenges
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The exchange rate between the US dollar and the Bangladeshi taka has been volatile and continuously rising since 2022, crossing over Tk 100 for US$ 1 . This alarming increase in the dollar rate has profoundly affected the economy, prompting policymakers to seek urgent solutions . However, recent data suggest a potential positive shift in momentum, indicating a possible stabilization of the dollar exchange rate and better economic prospects . Remittance inflows have risen at an unprecedented level, reaching $15 billion in the first eight months of the current fiscal year . Export earnings have also witnessed a noteworthy increase, reaching $51.8 billion in February . Import payments increased to $36.02 billion during this fiscal year's July-January period .
The volatility in the foreign ex...
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