The Dhaka Stock Exchange (DSE), the country's main capital market, opened the week on a positive note as stock prices of the majority of listed companies showed an upward trend during Monday's trading session. According to early market data, the DSEX, DSE's benchmark index, gained 3.49 points, reaching 5,382 points within the first hour of trading by 11 am. The Shariah-compliant index, known as DSES, also saw a rise of 3.90 points to 1,194 points, while the DS-30 index, which tracks the performance of blue-chip stocks, increased by 1.68 points, reaching 1,965 points. Read: Dhaka Stock Exchange investors demand BSEC Chairman’s resignation amid market instability During this period, a total of 89.95 crore shares and units were traded across the exchange. Market performance was mixed, with the share prices of 147 companies rising, 145 companies falling, and 74 companies remaining unchanged.

Bangladesh received inward remittance of US $ 425 million in five days of October, showing an uptrend of $100 million remittance flow year-on-year. According to Bangladesh Bank's latest update, the expatriates sent $325 million remittance during the same period (October 1-5) in 2023. The expatriates sent inward remittance of $ 6967 million ($6.69 billion) so far in the current fiscal year 2024-25, which was $5232 million ($5.23 billion) in the previous fiscal year FY2023-24. Bangladesh receives $2.4bn remittance in Sept, marking an 80.2% growth year-on-year In September, Bangladesh witnessed an increase in remittance by US $1.07 billion in a single month to $2.40 billion, as the expatriates preferred banking channels to send their hard-earned earnings in the country. The expatriates sent $2.40 billion in remittances, which shows an 80.2 percent growth year-on-year. This growth is the highest ever in a single month. The expatriates sent $1.33 billion in remittance in the same month of the previous fiscal year. Besides, remittances in September of FY 2024-25 rose by $180 million compared to the previous month July. Bangladesh received a total of $6.54 billion in the July-September period of FY 2024-25, which was $4.90 billion in the previous fiscal year 2023-24. During the July-September period showed a positive growth of 33.3 percent in the current fiscal compared to the previous fiscal year. Islami Bank holds views-exchange with foreign banks to strengthen remittance earning With a blessing from increased remittances, the decline in foreign exchange reserves has halted, and they have stabilised above $20 billion as per the IMF’s BPM-6 standard, while the gross reserve currently stands at approximately $24.75 billion. In the fiscal year 2023-24, Bangladeshi expatriates sent remittances of $23.92 billion. This figure of remittance was the second-highest collection ever. The expatriates sent the highest $24.77 billion remittance in the FY2020-21.

The key of the Dhaka Stock Exchange (DSE) dipped below the 5,400 mark for the first time in 41 days as Islami Bank shares plunged by around 10 percent on Sunday. Market activity remained sluggish, with daily turnover staying under Tk 400 crore, reflecting continued investor caution. The benchmark DSEX index dropped 83 points, closing at 5,378. This marks the lowest level since August 4, when it hit 5,229 points. B-category stocks, offering dividends below 5%, led the gainers' list. Fu-Wang Ceramic saw the biggest jump, with its share price surging 9.83%, followed by Fu-Wang Food and RD Food. Dhaka Stock Exchange investors demand BSEC Chairman’s resignation amid market instability By the end of Sunday’s trading session, 180 issues had advanced, 156 had declined, and 56 remained unchanged on the DSE. Islami Bank was the day's worst performer, with its shares plummeting 9.92%, closing at Tk 55.40. Other notable losers included SIBL, Khan Brothers PP Woven, and National Tea. Shakib Al Hasan fined Tk 50 lakh for share price manipulation in stock market

Movements in the exchange rate influence the decisions of individuals, businesses and the government. Collectively, these decisions impact economic activity, inflation and the balance of payments. Exchange rates can be measured in various ways, each providing different insights into the currency's value and its effects on the economy. Read:  Bangladesh Bank enhances foreign currency support for energy import Below are today’s (Sunday’s) foreign currency exchange rates: Currency              Buy (Tk)               Sell (Tk) US Dollar              119.00   120.00 Euro       129.52   133.93 British Pound     154.77   158.78 Japanese Yen    0.79        0.81 Singapore Dollar               90.45     93.52 UAE Dirham        32.39     32.68 Australian Dollar               80.17     82.27 Swiss Franc         137.52   141.03 Saudi Riyal           31.67     31.96 Chinese Yuan     16.81     17.24 Indian Rupee     1.40        1.44 Please note that exchange rates are subject to change at any time depending on market conditions and fluctuations. Source: Banks

Ethiopian Airlines, Africa's leading carrier, has introduced a special buy-one-get-one-free (B1G1) ticket promotion for flights from Dhaka to all its global destinations, marking its entry into the Bangladesh market. The airline will launch five weekly flights on the Addis Ababa–Dhaka–Addis Ababa route, starting with its inaugural flight from Addis Ababa on November 2, arriving in Dhaka on November 3. This promotion will be available from November 3 to 18, 2024, with tickets to be purchased by October 20, according to a press release. “We wanted to present an attractive offer to our passengers, and we believe this promotion will encourage Bangladeshi travelers to experience the world-class service of a Star Alliance airline,” said Shohag Hossain, managing director of Rhythm Group, Ethiopian Airlines' General Sales Agent (GSA) in Bangladesh. He stated that passengers must purchase tickets by October 20 and fly from Dhaka by November 18 to take advantage of the offer; however, they can select any date for their return flight.

Investors of the Dhaka Stock Exchange (DSE) have called for the resignation of Bangladesh Securities and Exchange Commission (BSEC) Chairman Khondoker Rashed Maqsood, citing his inability to manage the volatile stock market. The demands came after share prices of various companies plummeted, prompting widespread frustration among investors. Many blamed the BSEC chairman for failing to provide necessary support to institutional investors, which they claim has led to market instability. Protesters demanded a task force, like the one formed for the banking sector, to investigate the irregularities. They rallied outside the old DSE building in Motijheel on Thursday morning. Read: Stock market bullish on second day of lifting floor price Protestors marched from Motijheel to Agargaon, eventually staging a sit-in outside the BSEC headquarters, reiterating their demand for Maqsood’s resignation.  On Wednesday, at around 4:30 pm, investors from various organizations gathered outside the Investment Corporation of Bangladesh (ICB) and announced the ‘Long March’ to pressure the regulatory body. Read more:Dhaka Stock Exchange gains Tk 6,749 crore in market capital Earlier that day, members of the Bangladesh Capital Market Investors Oikya Parishad had formed a human chain in front of the old DSE building, underscoring the growing frustration with the market regulator.     

In a significant move to address the ongoing liquidity crisis in Bangladesh's banking sector, three financially stable banks have extended loan support to their weaker counterparts. This initiative is aimed at bolstering the stability of the financial system, said Bangladesh Bank Spokesperson Husne Ara Shikha on Wednesday. According to the central bank, City Bank, Mutual Trust Bank (MTBL), and Bengal Commercial Bank have collectively provided Tk 945 crore in liquidity support to First Security Islami Bank (FSIBL), Global Islami Bank and National Bank. FSIBL is set to receive some Tk 300 crore, with City Bank, MTBL, and Dutch-Bangla Bank Limited (DBBL) acting as the donating banks. Social Islami Bank Limited (SIBL) will receive a similar amount from City Bank and MTBL. Besides, Global Islami Bank and National Bank have also received their respective allocations from Eastern Bank Limited (EBL) and the previously mentioned donor banks. National Bank has received contributions from City Bank, MTBL and Bengal Commercial Bank. The liquidity injection has been initiated to support these banks in overcoming the ongoing cash crunch. Some banks are still in the process of completing necessary documentation before extending further support to other affected institutions. Ongoing Liquidity Crisis The liquidity crisis in Bangladesh’s banking sector has been a growing concern for regulators. On August 11, Bangladesh Bank imposed a limit on cash withdrawals from banks to manage the crisis effectively. However, the restriction was lifted on September 7, yet several banks continue to face liquidity shortfalls. On September 24, Bangladesh Bank published the current accounts of nine private sector banks operating with the central bank, revealing a deficit that had surged to Tk 18,167 crore. The banks listed included First Security Islami, Social Islami, National, Union, Islami Bank Bangladesh, Bangladesh Commerce, Padma, Exim and ICB Islamic Bank. This crisis has prompted swift action from both regulators and financially stable banks, emphasising the need for continued monitoring and targeted support to ensure the stability of the banking sector.

The general point-to-point inflation rate eased further in September as it reached 9.92 percent down from 10.49 percent in August, 2024. Both food and non-food inflation also saw a falling trend in this tenure. ADB projects inflation in Bangladesh to rise to 10.1% in FY 2024-25 According to the latest data of the Bangladesh Bureau of Statistics (BBS), the food inflation declined to 10.40 percent in September down from 11.36 percent in August, 2024, while the non-food inflation rate in September fell further to 9.50 percent down from 9.74 percent in August, 2024. The general point-to-point inflation rate both in urban and rural areas also declined last month. The point-to-point inflation in rural areas in September was 10.15 percent down from 10.95 percent in August, 2024. Bangladesh Bank hikes its key policy rate again targeting inflation On the other hand, the point-to-point inflation rate in urban areas in September was 9.83 percent in September down from 10.01 percent in August, 2024. The wage rate index in September witnessed an uptrend with 8.01 percent up from 7.96 percent registered in August, 2024.  

A technical glitch in the Bangladesh Bank server has caused disruption in inter-bank transactions, affecting the settlement of all clearing cheques on Monday. As of 5:00 pm Tuesday, the issue had yet to be resolved, leaving a backlog of pending cheque clearances. Bangladesh Bank’s Executive Director and spokesperson, Husneara Shikha, confirmed the disruption, saying there was a problem with cheque clearing on Monday due to a technical error in the central bank’s server. As a result, the cheques that arrived yesterday could not be processed. Bangladesh Bank Governor has assured liquidity crisis resolution for pvt banks: Abdul Awal Mintoo The central bank’s technical team is currently working to address the issue, and Shikha expressed optimism, saying they hope the problem will be resolved very soon. However, no exact timeline has been provided. Bangladesh Bank hikes its key policy rate again targeting inflation  

Prominent businessman Abdul Awal Mintoo today said that Bangladesh Bank Governor has assured private commercial banks of resolving their ongoing liquidity crisis within a short time. “There are various problems in the banking sector. We have discussed these with the central bank governor and sought cooperation. The governor has assured us of all possible assistance so that the banks can manage their activities smoothly,” Mintoo said. He made the statement after a meeting with the Bangladesh Bank governor on Thursday, where they addressed the current crisis in the banking sector. Mintoo, former president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Chairman of National Bank Limited (NBL), emphasized the need for liquidity support from the central bank. “We need as much liquidity support as possible within the framework of the banking law,” he said. “If Bangladesh Bank provides this support, our liquidity problem should be resolved by December.” When asked about the challenges facing banks, Mintoo acknowledged that many institutions, including NBL, are struggling with default loans and cash flow issues. “NBL has the same problems that other banks are facing,” he noted. Mintoo also highlighted NBL’s strategy to recover defaulted loans through legal action. “We will take the necessary steps, including going to court, to recover NBL’s defaulted loans.” Responding to a question on interest waivers, Mintoo revealed that the issue had been discussed with Bangladesh Bank. “The central bank has waived interest, but we’ve also talked about potentially reversing this decision. Any resolution will be made in accordance with banking regulations,” he added.