US dollar or US dollar and price increase-decreased
USD's bank code is USD
The name of the official currency of the United States. Its symbol is $, but to distinguish it from other countries' dollars, it is written in international documents as US $. One percent of it is called St. 1 dollar is equal to 100 cents.
It is printed by the US Federal Reserve.
It is currently the most widely used currency in the world. In addition to the United States, some other countries use the dollar as their official currency. The international use of the US dollar is twofold. Firstly, it is a currency to pay off international debts. Secondly, it is a widely used reserve currency.
Like five other things in the market, the exchange rate of money and dollars also depends on supply and demand. The dollar has solidified its place in the world economy. In terms of money, the dollar is rising, which means that the supply of dollars is declining compared to the demand in the money-dollar exchange market. Import and export is a big source of exchanging dollars with money.
Imports and exports are related to the value of the dollar. Inflation is also related to this. 16-17 crore people of the country have a relationship with the price of dollar.
The one who is importing, he wants to buy dollars with money; The one who is exporting is earning dollars and selling those dollars for money. If exports remain lower than imports, the demand for the dollar will continue to rise from its supply, resulting in a tendency for the value of money to fall in line with market rules. This trend can be stopped if the dollar is found in any other source.
The difference between import and export prices is the international trade deficit. Usually some of this deficit is covered by non-resident Bangladeshi dollars sent from abroad, some by dollars received from foreign direct investment, some again by foreign loans or aid from international organizations.
The dollar is still one of the most reliable assets in terms of anything. This means that the price of any other currency, gold or stock may fall abnormally. But the dollar is much more stable than that. In this context, it should be remembered that the dollar is one of the most widely printed currencies.
The price of the dollar has a close relationship with the price of crude oil or fuel oil. America is one of the largest importers of oil. As a result, the price of oil fluctuates with the rise and fall of the dollar.
The exchange rate of dollar and money in Bangladesh was fixed by the government after independence. The money was declared convertible on March 24, 1994. And in 2003 this exchange rate was made floating. Since then, money has not been devalued or revalued by declarations. However, although the exchange rate was floating, it was not completely market-based. The central bank has always had indirect control over it. In other words, Bangladesh Bank has been following the 'Managed Floating Rate' policy in this regard.