Home ›› 01 Jun 2023 ›› Front
The exchange rate of the US dollar has been increased by Tk 0.50 to Tk 108.50 for inward remittances and by Tk 1 to Tk 107 for export earnings.
The decision came from a joint meeting of the Association of Bankers, Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers Association (BAFEDA) on Wednesday.
The new exchange rate will be effective from Thursday.
Now, a remitter will get Tk 108.50 against a dollar, including the government-declared incentive of Tk 2.5, and an exporter will receive Tk 107 per dollar.
Until Wednesday, the price of a dollar against inward remittance was Tk 108 and Tk 106 for export incomes.
The meeting at the Sonali Bank head office at Motijheel was attended by BAFEDA Chairman and Sonali Bank’s Managing Director (MD) and CEO Afzal Karim, BRAC Bank MD and ABB Chairman Salim RF Hossain and the MDs of different commercial banks.
The gap between the official and unofficial rates of USD has now come down due to the recent initiative of the ABB and BAFEDA.
However, the central bank still is selling US dollars to the market at a far lower rate — Tk 104.50 per dollar — than the market rate.
Bangladesh Bank (BB) on Wednesday sold $54 million to banks, as per BB officials. On Wednesday, the interbank exchange rate was at Tk 108.50 per US dollar.
Industry insiders said that Bangladeshi expatriates will now be encouraged to send remittances through legal channels because the USD rate is nearly the same in both legal and illegal channels.
