Remitters to get maximum Tk 108 per USD, exporters Tk 99

The Association of Bankers, Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) today set a uniform exchange rate of US dollar.

As per the new rate, banks in Bangladesh would be able to offer a maximum of Tk 108 to the remitters and Tk 99 to the exporters in case of purchase of per US dollar from them.

Managing Director of Sonali Bank and BAFEDA Chairman Afzal Karim announced the rates after a meeting between BAFEDA and ABB at Sonali Bank headquarters in the city.

Afzal Karim said the rate may change anytime in line with the international market.

The meeting also decided that the LC (letter of credit) settlement rate will be fixed by calculating the average of remittance and export bill rates with a maximum increase of Tk 1.

Talking to BSS, BAFEDA Member and Managing Director and Chief Executive Officer (CEO) of the Modhumoti Bank Limited Md Shafiul Azam said the both associations have set the uniform exchange rate in an effort to stabilise the forex market.

On Thursday, Bangladesh Bank had discussions with banks to determine what to do in the dollar market. Central bank’s Deputy Governor Ahmed Jamal chaired this joint meeting with ABB and BAFEDA leaders. At the end of the meeting, Governor Abdur Rouf Talukdar joined. But they could not finalise the decision on a single rate for dollar.

Both organisations sought time to monitor the dollar market and understand the import-export situation before setting the unified rate of the dollar.

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