EUR/BDT Technical Analysis: Consolidation Near Resistance
The Euro vs Bangladeshi Taka (EUR/BDT) exchange rate is trading at BDT140.23, posting a modest daily gain.
The pair currently sits above its short- and medium-term moving averages but remains under its longer-term daily average.
Analysts note that the EUR/BDT was exhibiting a persistent downside bias amid structural changes linked to cross-border settlement reforms, but the current technical setup points to emerging upside risk.
The Bangladesh Bank has enabled settlement of cross-border trade in Bangladeshi Taka using Non-Resident Taka vostro accounts held abroad, streamlining settlement and enabling direct use of BDT in international trade.
Exporters who receive proceeds in BDT under this system retain their eligibility for foreign currency retention, sustaining trade liquidity for import payments or Export Development Fund loan repayments.