Bangladesh Bank’s comprehensive efforts, combined with cautious measures by banks, have mitigated the crisis of US dollars and local currency to some extent as the dollar’s price declined from Tk 120 to Tk 115. Factors contributing to the reduction in the dollar and money crisis include decreased imports due to central bank pressure, increased repatriation, and export earnings. Import costs decreased by 16%, expatriate income has seen steady growth, reaching $216 million in February and $172.5 million in March and Banks have now gained an additional $400 million in reserves via the introduction of the dollar-money swap facility by Bangladesh Bank in February. This has seen banks depositing excess dollars, totaling $1.5 billion. All these factors contributed to easing the dollar crisis effectively, although further improvements still is needed.
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