Remittances and export earnings further depreciated the dollar

  Remittances and export earnings further depreciated the dollar

Dollar price fell by 25 paise. Banks and other financial institutions will buy dollars at 109 taka 75 paise against expatriate and export income at the new rate.

And it can be sold to importers for 110 taka 25 paisa.

On Wednesday (November 29), a BAFEDA source said, the decision was taken at a joint meeting of the Association of Bankers Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers Association (BAFEDA), the organization of the top executives of the bank, through the mediation of the Central Bank.

This new dollar price will be effective from December 3.

Dollar crisis, high value of market dollar, increase of illegal expatriate income through control of hundi in respect of expatriate income; To manage the market, the price of the dollar was raised to 110 taka 50 paise in several rounds. However, at the same time, the dollar price of remittances in the open market exceeded 120 rupees. Even so, the dollar value of expatriate earnings and export earnings was reduced by 50 paise last week. Then 25 paise was reduced again.

Expatriates will get 2 taka 50 paise incentive as usual with the dollar received from the income. Apart from this, if a bank wants to, expatriates can collect income with an additional incentive of two taka 59 paise.