Exchange Rate Fluctuations Continue for Bangladeshi Taka Over TwoMonth Period

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Over Two-Month Period The Bangladeshi Taka (BDT), the national currency of Bangladesh, has experienced a series of noticeable fluctuations over a two-month span. A meticulous scrutiny of time-series data from early March to early April 2024 points towards a trend of slight volatility that may carry significant implications for both domestic and international market participants. Starting from March 8, 2024, the exchange rate of the BDT began at a modest 0.01231, with slight variations observed over the day. These fluctuations continued until March 19, when the exchange rate of the BDT rose slightly to 0.01240, indicating a subtle upward momentum. However, the trajectory of the BDT did not maintain this momentum, as it slightly decreased to 0.01227 on March 20, but quickly recovered a day after, returning to its previous level of 0.01240. Beyond March, the BDT displayed minimal swings with the rate mostly hovering around the 0.0123 to 0.0124 range. By early April, however, the BDT saw a small decrease and had an exchange rate pinned at 0.01229. This downward journey, even though slight, indicated a small decrease from the BDT’s previous mid-March high. Analysts trace these ripples in the BDT exchange rate to various factors including changes in demand for the BDT on the international market and fluctuations in the country''s economic indicators such as export-import performance, remittances, inflation, and GDP growth. Furthermore, the global economic climate and foreign investors'' perception of the Bangladesh economy have a pronounced influence on currency exchange rates. Perhaps the most crucial question that arises from such an analysis is: "What do these small fluctuations mean in the long term?" While short-term fluctuations are customary in any exchange rate and do not typically cause alarm, it is crucial for businesses and investors who engage in foreign exchange to keep an eye on any long-term trends that may start to emerge. Even minor increases or decreases in an exchange rate may have significant implications for companies with large scale international operations, importers, exporters, and retail foreign currency investors. The exchange rate of the BDT may also impact Bangladesh''s trade balance. For instance, a stronger BDT could make Bangladeshi goods more expensive to foreign customers, which could impact exports. Conversely, a weaker BDT can make imported goods more expensive, which affects businesses dependent on imported materials or equipment. Looking ahead, economic forecasters will keep a close eye on the BDT trend, and market participants should be prepared for any possible changes. The agility to adapt to changing exchange rates can often be the difference between a profitable year and a struggle for businesses. In this unpredictable world of foreign exchange, being well-informed about the ongoing trends can offer invaluable guidance for decision-making processes. Exchange Rate Fluctuations Continue for Bangladeshi Taka Over Two-Month Period

Current Middle Market Exchange Rate

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