In a virtual meeting jointly conducted by the Bangladesh Foreign Exchange Dealers’ Association (Bafeda) and the Association of Bankers’ Bangladesh (ABB), it was announced that the exchange rate for the US dollar would be increased. Consequently, banks have implemented a rate hike of Tk 0.50 for remittances, export proceeds, and import payments.
Effective from Monday, BAFEDA and ABB have mutually agreed to purchase the US dollar at Tk 110 and sell it at Tk 110.50. This adjustment means that remitters and exporters will receive Tk 110 for every dollar exchanged, while importers will be charged Tk 110.50 for their transactions.
This change in the exchange rate sets the inter-bank exchange rate at Tk 110.50, marking a significant increase from the Tk 85.8 rate observed in January of the previous year.”
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