{"id":11865,"date":"2024-01-04T05:05:47","date_gmt":"2024-01-04T05:05:47","guid":{"rendered":"https:\/\/thecrimebd.net\/english\/?p=11865"},"modified":"2024-01-04T05:05:47","modified_gmt":"2024-01-04T05:05:47","slug":"how-will-the-dollar-system-be-used-to-import-goods-during-fasting","status":"publish","type":"post","link":"https:\/\/thecrimebd.net\/english\/news\/11865\/","title":{"rendered":"How will the dollar system be used to import goods during fasting"},"content":{"rendered":"<p style=\"color: #252525; text-align: justify;\"><strong>Economy Desk:<\/strong> It has been decided to relax the LC opening margin on the import of six daily commodities to stabilize the prices of daily commodities in the market on the occasion of the upcoming holy month of Ramadan. Facility to open LC on zero margin if required. These include chickpeas, pulses, dates, edible oil, sugar, and onions, which are widely used in fasting. The LC margin levied on imports of these products before and during fasting will be relaxed.<\/p>\n<p style=\"color: #252525; text-align: justify;\">At the same time, credit will also be provided to the open LC for the import of these products. Merchants will be provided with the necessary dollars to open an LC. If the bank does not have the required dollars, they will be supplied from the central bank reserves.<\/p>\n<p style=\"color: #252525; text-align: justify;\">In this regard, the Central Bank will soon issue instructions and send them to the commercial banks.<\/p>\n<p style=\"color: #252525; text-align: justify;\">According to sources, the fast will start in mid-March. The demand for chickpeas, pulses, dates, edible oil, sugar, and onions is high during fasting. For this reason, initiatives have been taken to increase supply on the market by importing these products. So that the price of these products does not increase. At present, LCs for the import of many products cannot be opened due to the dollar crisis. This includes essential products.<\/p>\n<p style=\"color: #252525; text-align: justify;\">Imports of these products have decreased due to the inability to open LCs due to the dollar crisis. At the same time, the LC opening rate also decreased. Due to this, it has been decided to relax the LC margin on the import of these products.<\/p>\n<p style=\"color: #252525; text-align: justify;\">According to Central Bank sources, currently there is no LC margin imposed on the import of essential commodities. It also includes six daily products. However, due to the dollar crisis, an increase in prices in the international market, and the stoppage of the export of many products, their LC has decreased. India recently stopped exporting onions. But the country is thinking about starting exports. The majority of onions are imported from India. The supply of dollars will increase for the import of other goods. If the commercial banks do not have enough dollars, they will be supplied from the central bank reserves.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Economy Desk: It has been decided to relax the LC opening margin on the import of six daily commodities to stabilize the prices of daily commodities in the market on the occasion of the upcoming holy month of Ramadan. Facility to open LC on zero margin if required. These include chickpeas, pulses, dates, edible oil, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"location":[],"class_list":["post-11865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How will the dollar system be used to import goods during fasting - The Crime BD<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thecrimebd.net\/english\/news\/11865\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How will the dollar system be used to import goods during fasting - The Crime BD\" \/>\n<meta property=\"og:description\" content=\"Economy Desk: It has been decided to relax the LC opening margin on the import of six daily commodities to stabilize the prices of daily commodities in the market on the occasion of the upcoming holy month of Ramadan. Facility to open LC on zero margin if required. 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