Home ›› 02 Mar 2023 ›› Front
The exporters will get Tk104 per US dollar instead of Tk103 to repatriate their export income in Bangladesh.
The Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) issued a letter on Wednesday to the managing directors and CEO of all authorized dealers of foreign exchange in the country to implement the new rate.
This new rate will be effective from March 1 and all authorised dealer banks will have to follow this rate.
To stabilise the forex market and to better serve the customer to all segments, it is unanimously decided to implement the uniform exchange rate, according to the letter.
And in terms of expatriate income, the dollar price has been kept unchanged at Tk107 per US dollar.
As a result, the average expatriate income and export income is Tk105.5. Adding Tk0.50 to this average will be Tk106 per dollar of import bills.
However, importers said that banks are imposing higher rates than the BAFEDA rate to clear import bills.
Most importers face difficulties in opening letters of credit (LC) as the country is still facing a US dollar shortage.
From July to February 22 of this fiscal year, the central bank pumped $9.80 billion into the country’s forex market amid the crisis.
The country’s foreign exchange reserve stood at $32.44 billion as of February 22, down from $45.85 billion during the same period of last year, as per the BB data.
