Export proceeds amounting to around $7.6 million owed to 14 Bangladeshi exporters have been stuck in Russia for at least one year as Russian importers are facing a US dollar shortage, according to Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).
Bangladesh Bank yesterday barred transferring the value-added portion of export proceeds to other banks for settling the exporters’ import liabilities.
The step may increase the supply of the US dollar in the forex market
Export proceeds amounting to around $7.6 million owed to 14 Bangladeshi exporters have been stuck in Russia for at least one year as Russian importers are facing a US dollar shortage, according to Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).
Bangladesh Bank yesterday barred transferring the value-added portion of export proceeds to other banks for settling the exporters’ import liabilities.
The step may increase the supply of the US dollar in the forex market
