Banks in Bangladesh increase dollar rate for exporters

In efforts to set a uniform exchange rate in the country by June by replacing the ongoing multiple exchange rates, banks in Bangladesh have hiked the rate to purchase US dollars from exporters by Taka 1 to Taka 104

According to media reports, a decision to this end was taken at a recent meeting of the Association of Bankers Bangladesh- a platform for Managing Directors of banks, and the Bangladesh Foreign Exchange Dealers’ Association, which implements foreign exchange rules in the market.

It may be mentioned here the two platforms earlier took a decision to provide Taka 103.50 instead of Taka 103 for every dollar if the exporters fetch their proceeds from December and January by February this year even as Managing Director of Mutual Trust Bank Syed Mahbubur Rahman on his part maintained, “But commercial banks have raised the exchange rate for exporters significantly as we are on course to establishing a single exchange rate in the banking sector in line with the Bangladesh Bank’s (central bank) decision.”