In its effort to arrest the fall in forex reserves and bring unrealised export proceeds into the country, the Bangladesh Bank today allowed bankers to offer the existing US dollar exchange rate to exporters.
It's because of the inflation-led pressures on Bangladesh’s taka and the central bank's undervaluation of the US dollar.
Association of Bankers, Bangladesh (ABB) decided to sell each US dollar at Tk 110.50 to importers and buy it at Tk 110 from exporters and remitters
Bankers today decided to appreciate the taka against the US dollar by Tk 0.50 from tomorrow as they observed an improvement in the overall current account balance, which records the nation's transactions with the rest of the world
Banks will buy dollar at Tk 110, sell at Tk 110.5 from Nov 23
The Policy Research Institute of Bangladesh says in a press briefing
Earlier this month, the edible oil refiners’ association wrote to the Bangladesh Trade and Tariff Commission seeking to increase prices of cooking oil.
Commercial banks raised the exchange rate as part of efforts to establish a single exchange rate
The exchange rate of dollar needs to be freed to make the garment business profitable at this crisis time, said a top leader of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today.
In its effort to arrest the fall in forex reserves and bring unrealised export proceeds into the country, the Bangladesh Bank today allowed bankers to offer the existing US dollar exchange rate to exporters.
It's because of the inflation-led pressures on Bangladesh’s taka and the central bank's undervaluation of the US dollar.
Association of Bankers, Bangladesh (ABB) decided to sell each US dollar at Tk 110.50 to importers and buy it at Tk 110 from exporters and remitters
Bankers today decided to appreciate the taka against the US dollar by Tk 0.50 from tomorrow as they observed an improvement in the overall current account balance, which records the nation's transactions with the rest of the world
Banks will buy dollar at Tk 110, sell at Tk 110.5 from Nov 23
The Policy Research Institute of Bangladesh says in a press briefing
Earlier this month, the edible oil refiners’ association wrote to the Bangladesh Trade and Tariff Commission seeking to increase prices of cooking oil.
Commercial banks raised the exchange rate as part of efforts to establish a single exchange rate
The exchange rate of dollar needs to be freed to make the garment business profitable at this crisis time, said a top leader of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today.
The taka yesterday depreciated against the US dollar, hitting Tk 96 on the interbank platform as the central bank moved to allow the market forces to determine the exchange rate of the national currency.
