The Bangladesh Bank has instructed commercial banks not to purchase remittance dollars at rates higher than Tk118, issuing warnings of penalties for non-compliance. In a recent meeting with managing directors of 15 banks, the central bank emphasized the need for adherence to this rate limit. Currently, banks are acquiring remittance dollars at rates ranging from Tk117.80 to Tk118.30, with slightly lower rates possible for remittances from Europe compared to those from the UAE and Qatar.
Additionally, banks were directed to ensure timely payments for both local and foreign bills, particularly focusing on clearing bills maturing by 30 June by 31 July. Concerns were raised during the meeting about delays in payment due to issues such as exports not being timely or cancellations. Banks were instructed to notify the Bangladesh Bank if export bills take longer than 120 days to arrive, as per regulations.
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