BAN 201 Assignment by fahim.docx

BAN 201 Assignment by fahim.docx - An Assignment On...

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An Assignment On Exchange Rate Policy Prepared for: TAHSIN SHARMILA RAISA Lecturer Department of Business Administration Prepared by: Md. Rumman Hasan Fahim Id. 161-11-273 Submission date: 11 Aug 2017 Daffodil International University
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Exchange Rate Policy in Bangladesh: The rate at which one currency is exchanged for another currency in the foreign exchange market is called exchange rate. Until recent past, fixed exchange rate system was prevailing in Bangladesh in which case the central bank of the country could devalue the local currency. To better protect the external competitiveness of Taka and to enhance the resilience of the economy in responding to shocks, Bangladesh formally stepped over to market based exchange rate for the Taka from 31st May 2003 (Annual Report, BB, 2002-03). In this new system, the nominal exchange rate is set by the market forces but keeps discretion for the central bank to intervene in the foreign exchange market to keep the rate within certain limit of appreciation or depreciation.
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  • Spring '17
  • Dr. Mizanur Rahman
  • Finance, Exchange Rate, Foreign exchange market, United States dollar, exchange rate policy, Bangladeshi Bank, Foreign Exchange Policy Department

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