BB sets single price of US dollar

BB sets single price of US dollar


Published: 20:54 29 May 2022  

BB sets single price of US dollar

BB sets single price of US dollar

Bangladesh Bank has fixed the single price of dollars. From now on, the maximum rate of dollar for payment of import expenses is Tk 89.15 and the maximum rate for interbank transactions is Tk 89 after depreciating taka by 1.25 percent.

Bangladesh Bank Executive Director Sirajul Islam has confirmed this information on Sunday.

The interbank exchange rate of the taka stood at Tk 85.8 per dollar on December 30 and Tk 84.8 on May 29 last year.

The central bank has also fixed the BC (bills for collection) selling rate—at which banks sell US dollars to importers—at Tk 89.15 a US dollar in contrast to the existing Tk 88.

The rate has been fixed as per the proposal of Association of Bankers Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers Association (BAFEDA).

Earlier on Thursday, the central bank held a meeting with ABB and Bafedar to address the volatility and crisis in the dollar market. The banks took this decision on the advice of the central bank. The meeting was chaired by Bangladesh Bank Governor Fazle Kabir.

At the end of the meeting, Sirajul Islam, Executive Director and Spokesperson of Bangladesh Bank, told reporters that the dollar which is being sold regularly for necessities will continue. It has to be sold to that bank with export price discounting through the exporter's bank. The single value of the dollar will be determined by BAFEDA and ABB, which all banks must comply with. Expatriate income should be brought at this price.