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Financial account deficit a key issue

Staff Correspondent
22 May 2023 16:40:51 | Update: 22 May 2023 21:13:34
Financial account deficit a key issue
— Courtesy Photo

The crisis in the foreign exchange market has eased slightly compared year-on-year, but the banking sector still navigating troubled waters, especially the financial account deficit, said Association of Bankers, Bangladesh Ltd (ABB) Chairman Selim RF Hussain.

He was speaking at a press conference on "Bangladesh Banking Sector Outlook 2023," organised by the ABB Monday.

Bangladesh’s financial account was negative $2.21 billion during the July-March period of FY23, show central bank data. It was positive at $11.92 billion during the same period last FY.

Hussain added that the situation last year was a very unusual one, as Bangladesh saw the highest depreciation of the local currency against USD in the country’s history.