The remittance dollar will be sold at the rate from today

The decision not to pay more than Tk 120 dollar rate bought from various foreign exchange houses to bring expatriate income or remittance to the country is going to be effective from Sunday.

Before this, a decision was taken to impose this limit on the price of the dollar in a meeting of treasury chiefs of public and private banks in the country last Thursday.

Most recently, the remittance flow in the country has started to increase after a long drought. Also the supply of dollars is higher than before. Considering that, it was decided to buy all the bank remittances of the country at 120 rupees.

It is known that the dollar price of these two sectors was increasing without any significant reason. To decide what to do in that regard, the Treasury chiefs have taken several decisions through discussion. They announced that the banks will be able to pay a maximum of 120 rupees for remittance dollars, which will also be applicable for inter-bank and import debt payments. Banks will follow the circular of Bangladesh Bank for monetization of export earnings.

Meanwhile, the Treasury chiefs also decided to meet once or twice a week to monitor the implementation of these decisions and share views on the dollar market situation. Apart from this, it was also decided to form a monitoring committee to monitor the movement of dollar prices in the market and coordinate among the banks to develop an efficient foreign exchange market.

Bangladesh Bank Governor Dr. Ahsan H Mansoor said, according to the crawling peg exchange rate mechanism, banks can buy and sell dollars by adding a band of 2.5 percent with an intermediate rate of 117 rupees. Accordingly, banks can charge up to 120 rupees per dollar for dollar transactions.

Bangladesh /SBT