Foreign Currency Dealers, Banks Cap Dollar Exchange Rates

Foreign currency dealers and banks have finally capped the dollar exchange rates following Bangladesh Bank’s instructions amid a lingering crisis centring the greenback.

The ceiling will be Tk 108 for inward remittances and Tk 99 for export proceeds, effective from Monday, reports the media.

The rate for letters of credit for import will be an average between the rate for remitters and the rate for exporters.

Afzal Karim, managing director of Sonali Bank and chairman of Bangladesh Foreign Exchange Dealers Association, announced the rates after a meeting with the Association of Bankers, Bangladesh.

He said the rate may change anytime in line with the international market.