The use of rupee in trade between Bangladesh and India has started from today. On Tuesday, July 11 afternoon, Bangladesh Bank and the Indian High Commission jointly organized the official announcement of the use of rupees in trade at a hotel in the capital.
Indian High Commissioner Prannoy Kumar Verma said at the event that this is a sign of mutual cooperation between the two countries. Bangladesh Bank Governor Abdur Rauf Talukder said, “We have chosen this after thinking a lot to reduce the pressure on the dollar.” The governor also expressed optimism that Bangladesh’s exports will increase due to transactions in rupees.
Both the central banks of the two countries have allowed their two banks to open accounts for transactions in rupees. In this regard, Sonali and Eastern Bank of Bangladesh have received approval from the Reserve Bank of India to open special accounts for transactions of Rupees. In the meantime, Sonali Bank and Eastern Bank have opened transaction accounts with State Bank of India and ICICI Bank. Similarly, two Indian banks have opened accounts in these two banks of Bangladesh.
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