• Financial

This time the central bank set a rate of one dollar

  • Financial
  • 02 June, 2022 10:59:39

Photo: Collected

News Desk: From now on, it will be sold at Tk 69 per US dollar in the interbank currency market. Central Bank Bills for Collection (BC) selling rate 69 rupees 15 paise. Banks will follow this rate when selling dollars to importers.

Sunday (May 29) Bangladesh Bank spokesman and executive director. Sirajul Islam has confirmed this information.

He said the selling rate in the interbank currency market has been fixed at Tk 69 per dollar and the BC selling rate at Tk 79.15. And by combining these two rates, the exchange houses will sell dollars. The rate has been fixed as per the proposal of Bangladesh Foreign Exchange Dealers Association (BAFEDA) and Association of Bankers, Bangladesh (ABB), an organization of top level officials of the bank.

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

Several bankers who attended the meeting said the meeting was called to end the crisis. The crisis will be exacerbated by the decision of the meeting. Because expatriate income at such a low price will not come to the country legally. Export earnings will also be hampered by the low value of the dollar. Without acknowledging the reality, the central bank still wants to keep the dollar price below 90 rupees. Although in reality the dollar is being traded above 95 rupees.

After the meeting, Sirajul Islam, executive director and spokesperson of Bangladesh Bank, told reporters that the dollars being sold from the reserves on a regular basis to alleviate the crisis would continue. Exporters will have to cash dollars in their own banks. Bafeda and ABB will set a dollar value, which all banks will abide by. After that, the central bank fixed the dollar trading price by reviewing the rates given by ABB and Bafedar today.

One of the ABB leaders said, "We have discussed the rate among ourselves." The central bank will review it and fix the rate and inform all the banks in the form of circular. From now on, all banks will trade dollars at that rate.

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