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Taka’s value depreciates against United States dollar

  

The value of Bangladeshi taka has depreciated to 102 for one single dollar from 86 taka in January 2022.

A sliding local currency usually translates into higher earnings for the exporters since their products become more competitive in the global markets but when it comes to Bangladesh garment makers, it brought little cheers thanks to a host of reasons including substantial increase raw materials cost, hike in shipping charges and inflation, which is seen as a direct fallout of the Russia-Ukraine war.

Managing Director.Narayanganj-based Plummy Fashions, says,exporters have not been able to reap the maximum benefit from the fall of the Taka consequent to raw material prices going up even if global buyers are not raising goods’ prices accordingly.

Kutubuddin Ahmed, Chairman, Envoy Textiles, adds, since the company was importing raw materials at higher costs, it doesn’t gain much from the depreciation of Taka.

 
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