TNPSC Thervupettagam

Bangladesh Floats Currency

June 26 , 2023 519 days 497 0
  • Bangladesh’s central bank will allow the currency to float freely for the first time in the country’s history.
  • This is the demands from the IMF in order to unlock more money from the $4.7 billion loan program.
  • Pakistan, Egypt and Lebanon were among those that have dropped their fixed exchange rates this year.
  • A floating exchange rate is a regime where the currency price of a nation is set by the forex market based on supply and demand relative to other currencies.
  • This is in contrast to a fixed exchange rate, in which the government entirely or predominantly determines the rate.

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