Bangladesh to set uniform dollar exchange rate amid currency volatility

Bangladesh plans to set a uniform dollar-taka exchange rate for international trade to curb currency volatility.

Dealers will submit their proposal on Sunday and the central bank will fix the rate after reviewing the proposal.

Governor Fazle Kabir met the Bangladesh Foreign Exchange Dealers’ Association and the Association of Bankers, Bangladesh on the exchange rate on Thursday.

BAFEDA will submit the proposal after discussing the rate among themselves, said Bangladesh Bank spokesman Serajul Islam.

He said that the banks will have to follow the rate based on BAFEDA’s proposal.

The central bank also decided that exporters must bring in their earnings through the relevant banks, Serajul said.