BB fixes max margin between USD buying, selling rates at Tk1.5

The Bangladesh Bank on Wednesday set the maximum margin between the buying and selling rates of the US dollar for the country’s money changers.

As per the central bank’s decision, the money changers can now sell the US dollar at a maximum of Tk1.5 over the bank’s selling rate.

The decision was taken at a meeting between the Money Changers’ Association and the Bangladesh Bank on Wednesday, said Bangladesh Bank Executive Director and spokesperson Md Serajul Islam.

Before the move, Bangladesh Bank asked banks last week to maintain at most Tk 1 difference between the buying and selling rates of USD.

The Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) had set the Tk 1 difference earlier in 2006.