Foreign currency reserves
It is a good news that our US dollar reserves have reached a new peak of 6.23 billion and the taka is getting stronger. Now the Bangladesh Bank is buying the US dollar from the local market to hold the exchange rate. But, has the government considered that if the taka gets a lot stronger due to the fall of the value of the US dollar in the international market, it will reduce the value of our reserves substantially?
Considering the current crisis in America and the world economy, Japan and Britain hastily revalued their currencies, speculating the fall of the US dollar, but it proved to be too early. But the fear of a falling dollar is going to come true soon without prior notice as the recession and depression continues.
So, if we have more US dollars than needed, then we should start to invest in metals and minerals to support our reserves and avoid the adverse situation in future.
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