BANGLADESH: Exporters Expect Sales Surge After Devaluation
Bangladeshi garment exporters expect a new increase in sales following last week's devaluation of the taka, the domestic currency. The taka was depreciated by 5.5 per cent after having already been devalued by 5.8 per cent in August 2000. Dhaka's government was forced to devalue the currency to curb a surge in imports which were up 24 per cent since the beginning of the year, as exports fell around 10 per cent. Garments account for 60 per cent of Bangladeshi total exports.
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