Exchange rate mid-rate to remain unchanged at 117 per USD
Bangladesh Bank has kept the crawling peg mid-rate unchanged at Tk 117 per US dollar for the first half of the current fiscal year as the foreign currency market is showing reasonable stability.
The crawling peg and the mid-rate were introduced on May 8 this year.
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The crawling peg system is a transitional measure towards a fully flexible, market-based exchange rate system, aiming to stabilise exchange rate movements while preparing for broader market liberalisation.
The taka has lost its value by about 35 percent in the past two years against the US currency.
In its monetary policy statement released today, the BB also said it will also enhance import liberalisation by removing letter of credit (LC) margin requirements for all products except luxury goods like cars, fruits, flowers, cosmetics, and similar items, with margins determined based on bank-customer relationships.
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