jnathan
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- Feb 3, 2009
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Robindesbois,
BDT has been devalued to its highest number against USD and CAD in one single day in the last few weeks after the stock market scam. it was 3 taka. it is said that around 84,000 Crore BDT has been shifted to foreign banks from Banglades after the stock market scam. according to financial sources and newspaper reports, Banks are tottering in liquidity crisis mainly due to the vacume created by the money shifted from the local market as earlier said and the unrest in Middle eastern countries, namely Libya, Bahrain and Saudi Arabia. Saudi Arabia is Banglades's biggest source of remittance.
Currently the exchange rate there is 1 CAD = 75 BDT [selling], though its 73 taka officially but you'd not be able to get more than 2000-5000 CAD officially. same applies for USD. it used to be 70-71 BDT even 6 months ago.
One other problem is to blame that is the recent spike in Crude oil in International market which has stood up very quickly from $80 -$120 and this has created inflation in local market.
Lets do the simple maths !
PoF CAD $10,000 Showed a year ago has now lost CAD $ 667
PoF CAD $20,000 Showed a year ago has now lost CAD $ 1334
PoF CAD $30,000 Showed a year ago has now lost CAD $ 2001
PoF CAD $40,000 Showed a year ago has now lost CAD $ 2668
PoF CAD $50,000 Showed a year ago has now lost CAD $ 3335
PoF CAD $60,000 Showed a year ago has now lost CAD $ 4002
PoF CAD $70,000 Showed a year ago has now lost CAD $ 4669
Alarming !
very good point brought forward Robindesbois.
BDT has been devalued to its highest number against USD and CAD in one single day in the last few weeks after the stock market scam. it was 3 taka. it is said that around 84,000 Crore BDT has been shifted to foreign banks from Banglades after the stock market scam. according to financial sources and newspaper reports, Banks are tottering in liquidity crisis mainly due to the vacume created by the money shifted from the local market as earlier said and the unrest in Middle eastern countries, namely Libya, Bahrain and Saudi Arabia. Saudi Arabia is Banglades's biggest source of remittance.
Currently the exchange rate there is 1 CAD = 75 BDT [selling], though its 73 taka officially but you'd not be able to get more than 2000-5000 CAD officially. same applies for USD. it used to be 70-71 BDT even 6 months ago.
One other problem is to blame that is the recent spike in Crude oil in International market which has stood up very quickly from $80 -$120 and this has created inflation in local market.
Lets do the simple maths !
PoF CAD $10,000 Showed a year ago has now lost CAD $ 667
PoF CAD $20,000 Showed a year ago has now lost CAD $ 1334
PoF CAD $30,000 Showed a year ago has now lost CAD $ 2001
PoF CAD $40,000 Showed a year ago has now lost CAD $ 2668
PoF CAD $50,000 Showed a year ago has now lost CAD $ 3335
PoF CAD $60,000 Showed a year ago has now lost CAD $ 4002
PoF CAD $70,000 Showed a year ago has now lost CAD $ 4669
Alarming !
very good point brought forward Robindesbois.