Bangladesh to introduce uniform exchange rate from July

BTJ Desk Report
Bangladesh to introduce uniform exchange rate from July

Bangladesh to introduce a uniform exchange rate for importers and exporters from July this year, the commerce ministry has informed the International Monetary Fund (IMF), according to the media report.

Media reported citing a meeting with the Senior Secretary of the commerce ministry Tapan Kanti Ghosh on Tuesday where the IMF reiterated its call for introducing a unified exchange rate for imports and exports.

Moreover, the IMF raised concerns about exporters intentionally not bringing in export proceeds to the country.

The global lender also took note of the expected export income for the current and the next fiscal years in the meeting.

Earlier, a visiting team of staff of the IMF asked Bangladesh whether it is possible to introduce a uniform exchange rate of the US dollar both for the importers and the exporters.

Moreover, the Bangladesh Bureau of Statistics (BBS) has decided to prepare and release quarterly reports on the country’s Gross Domestic Product (GDP) from 2024 as per the demand of the IMF.

The IMF, for the first time, is reviewing the progress Bangladesh made so far in meeting its conditions for the $4.7 billion loan. The first tranche of $476 million was given to Bangladesh in February.


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