Economy Desk: Exports and repatriation earnings have been revalued by increasing dollar values. The price of exports will be increased by one taka per dollar to taka 108 50 paisa. Until now, which was 107 taka 50 paisa. And remittances, or expatriate income, have been increased by 50 paisa to 109 taka. Apart from this, the maximum rate of the dollar for imports will be 109 taka 50 paisa. Earlier, it was 109 taka.
The new decision will be effective today, Tuesday, August 1. Earlier on Monday (July 31), the decision to increase the price of the dollar was taken in a joint meeting of the Association of Bankers Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers Association (BAFEDA). The meeting held at the head office of Sonali Bank was attended by the chairman of BAFEDA and the managing director (MD) and CEO of Sonali Bank. Afzal Karim, Chairman of ABB and Managing Director (MD) of BRAC Bank Salim RF Hossain and Managing Directors of various commercial banks Regarding the meeting, ABB Chairman Salim RF Hossain said that in the joint meeting of ABB and Bafeda, the dollar price of export income has been increased by one taka and remittances by 50 paise.
Banks will pay 108 taka 50 paisa against exports starting in August. If you send remittances, you will get 109 taka per dollar. This leader of the bankers said that we are working to gradually unify the rates of export and remittance. Through this, the dollar rate difference in remittances and export bill encashment has been brought to 50 paise. By doing so, exporters will be more encouraged.
Order to stop evening banking The dollar crisis in the country has become evident since March last year, after the start of the Russia-Ukraine war. To deal with this crisis, Bangladesh Bank fixed the dollar price at the beginning. But the crisis worsened. Later in September, Bangladesh Bank withdrew from the responsibility of determining the price of the dollar.
This responsibility is given to ABB and Buffeta. Since then, these two organizations have been jointly fixing the dollar price for export and repatriation earnings and the payment of import liabilities. According to the latest data from Bangladesh Bank, on Monday, the interbank dollar was trading at Tk 109. This is the highest exchange rate ever. Meanwhile, on Monday, the price of one dollar of cash in the curb market or open market was 111 taka, 50 paisa, or 112 taka.
