Bangladesh world’s second in maintaining currency value: AL

Bangladesh ranks second among countries that succeeded in maintaining its currency value, although the rate of currency against the dollar has decreased in almost all countries of the world due to the war between Russia and Ukraine, says the Awami League (AL).

According to a study conducted by the Information and Research Sub-Committee of the AL, Cambodia ranks first in the world and Bangladesh ranks second among the countries with the lowest depreciation of its currency.

The study claims that since the start of the Russia-Ukraine war in March, Bangladesh's currency has depreciated by 3.41% and Cambodia's by zero per cent. As a result, the value of the Bangladeshi currency has increased compared to all other countries except a few.

The prime minister of Bangladesh has put the country's economy on a strong footing by maintaining the currency rate, said AL Information and Research Secretary Salim Mahmud.

The research paper was presented at a meeting of the party's information and research sub-committee at the Dhanmondi office of the AL president on Saturday afternoon.

The study shows that since the beginning of the Russia-Ukraine war, the Indian rupee depreciated by 6.83%, Pakistani rupee by 30.63%, Nepalese rupee by 6.43%, Myanmar kyat by 12.63%, Chinese yen by 5.6%, Thai baht by 9.46%, Japanese yen by 17.32%, South Korean won by 12.07% and Malaysian ringgit by 3.90%, Filipino peso by 9%, Taiwanese dollar by 6.4%, Singaporean dollar by 3.75%, Cambodian real by 0%, Brunei dollar by 3.60%, Turkish lira by 89.37%, Egyptian pound by 14.5%, South African rand by 13.66%, Australian dollar by 9.17%, New Zealand dollar by 10.77%, British pound by 11.86%, European euro by 13.40%, Swiss franc by 8.85% and Swedish kroner by 19.67%.

Not only maintaining the currency rate, but the value of the Bangladeshi taka has also increased compared to the currencies of many countries in the world, the study says.

According to research data, the value of the Bangladeshi taka has risen against the currencies of almost all countries of the world except Brazil, Russia and Cambodia.

The value of the Bangladeshi taka has risen by 13.86% against the Japanese yen, 10.94% against Euro, 2.73% against Indian rupee, 8.07% against British pound, 6.45% against Australian dollar, 1.32% against Chinese yuan, 2.94% against Canadian dollar, 9.38% against South Korean won, 11.97% against Danish krone, 21.69% against Argentine peso, 4.92% against the Swiss franc and 7.47% against the New Zealand dollar.

However, the value of the Russian ruble and the Brazilian real against the dollar rose during the period.

Salim Mahmud said after the Covid pandemic, the whole world is going through a deep economic crisis and instability due to the war in Ukraine. At this critical time, the BNP and its allies want to spread rumours and propaganda in Bangladesh and create instability in the country. We have to resist their conspiracy for the sake of our national interest.

At the meeting, a member of the AL Information and Research Sub-Committee and also Chairman of Bangladesh Satellite Company Shahjahan Mahmud presented information against various propaganda about the Bangabandhu satellite.

He said that the state is saving a huge amount of foreign currency as the country's television channels are using the services of Bangabandhu Satellite. This is propaganda that it is not making any profit.

Member of the research sub-committee and also Chairman of Janata Bank Mahfuzur Rahman, Chairman of the Board of Directors of Bangladesh Biman Sajjadul Hasan, Member of the University Grants Commission Biswajit Chanda and several members of the sub-committee were also present at the meeting.