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Banks need to pay higher exchange rate

Industry: Bank, Financial
Economic Tag: Bank

The Association of Bankers, Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers’ Association (Bafeda) have decided to pay a higher rate of Tk0.50 per dollar if the export revenues from shipments made in December and January are returned by 28 February. Oral directives from the Bafeda have been given to hasten the execution of this unofficial ruling.

Given that the economies of many nations in Europe and America are contracting, Bangladeshi exporters do not have a significant role to play in generating export revenues rapidly, even if the dollar rate is increased further.

ABB and Bafeda made the decision to raise the exporters’ dollar rate by Tk0.50 to Tk102 per dollar in an online meeting that took place on December 4 of last year. At the meeting, the managing directors of the nation’s public and private banks took part, and the export revenues were increased from 100 to 101 Tk per dollar.




Source for more details:

The Business Standard






Source for more details:

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Source for more details:

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Source of the news:

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Source for more insights:

The Business Standard

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