Finance
Dollar Rate Dollar rate up again for remittances
Dhaka, August 1: In the case of remittances sent by expatriates, the rate of dollar has been increased by 50 paise to Tk 109, and in terms of export earnings, the rate of dollar has been increased by Tk 1 to Tk 108.50. Besides, the rate of dollar has been increased by 50 paisa to Tk 109.50 in the settlement of imports.
In this case, even if they can make a profit of Tk 1 per dollar, the banks cannot sell the price of the dollar at more than Tk 109.50.
This decision was taken at the meeting of Bangladesh Foreign Exchange Dealers Association and Association of Bankers, Bangladesh (ABB) on Monday. Earlier, in a meeting on the last working day of last June, the interbank dollar price was fixed at Tk 109 by BAFDA and ABB. If the average cost of a bank to buy one dollar is Tk 107.50, the bank could sell to customers at a maximum of Tk 108.50. However, if the average cost of buying one dollar is Tk 108.70, then the banks have no opportunity to keep the maximum price higher than Tk 109 while selling.
On the other hand, against every dollar of remittance, the government is subsidizing at the rate of Tk 2.50. According to the new rules, an expatriate will get Tk 111.50 for every dollar from now on. In other words, Tk 2.50 will be added to the new rate of Tk 109.
