Dhaka: From now on, the money exchange association of the money exchange houses will determine the dollar rate of the open market. On Tuesday (November 14), Bangladesh Bank gave the task of determining the price of the dollar in the open market to the Money Exchange Association.
After the meeting with the governor, this information was confirmed by the general secretary of the organization. Sheikh Helal Shikder.
Last Thursday, the Foreign Exchange Dealers Association (BAFEDA) and the Association of Bankers Bangladesh (ABB) requested the central bank to properly implement the dollar-related guidelines. Then today, Bangladesh Bank gave the responsibility of controlling the price of dollar in the open market to the Money Exchange Association.
After this new directive, money exchange houses will be able to buy dollars at the rate of 115 taka 50 paisa and sell them at a maximum price of taka 117. Association and Bangladesh Bank will take punitive action against the money changer if the dollar is traded at a higher price than this.
Due to the volatility of the dollar, earlier the responsibility of determining the foreign currency exchange rate was given to the Foreign Exchange Dealers Association (BAFEDA) and the Association of Bankers Bangladesh (ABB) from Bangladesh Bank. Money Exchange Association of Bangladesh has been given the responsibility amid allegations that the dollar market is being syndicated.
After the meeting with the Central Bank on Thursday, Association of Bankers Bangladesh (ABB) Chairman and Managing Director of BRAC Bank Salim RF Hossain told reporters that we are going through a difficult situation due to the foreign exchange crisis. We all need to work together to solve this problem. According to our latest instructions, any bank can buy remittance up to 116 rupees. But can’t sell for more than 111 rupees. Even then, those who are violating the guidelines have also been spoken to. Together we will stabilize the market.
Bangladesh time 2350 hours : November 14, 2023
ZA/MM
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