The Bangladesh Bank has announced a measure aimed at bolstering foreign exchange reserves and encouraging the repatriation of unrealized export proceeds. Under this new policy, bankers are permitted to offer exporters the existing US dollar exchange rate, a move intended to incentivize the inflow of US dollars into the country.
This decision follows the recent introduction of the crawling peg exchange rate system by the central bank, which set the mid-rate at Tk 117 per US dollar. The new rate represents a 6.36 % increase compared to the previous rate of Tk 110 per US dollar.
Previously, exporters were required to bring export proceeds into the country based on the exchange rate on the due date of proceeds realization. However, concerns arose that some exporters were delaying repatriation due to discrepancies between the fixed exchange rate and the market rate.
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