Bangladesh’s central bank, the Bangladesh Bank (BB), has withdrawn the provision of a fixed rate for dollars for Letters of Credit (LC) and remittance and allowed the banks to now fix dollar rates even if BB will sell dollars at a fixed rate.
Media reports maintained this citing the concerned officials of the central bank.
The decision was taken considering a decrease in remittance inflow through formal channels and the plight of exporters, reportedly, underlined spokesperson of BB, Serajul Islam, who, reportedly, added the commercial banks have been informed they can now set the dollar price on their own in line with the market.
