Dollar rate for export proceeds hiked by Tk1; remittance rate raised by Tk0.50

Business Report :
The dollar rate for export proceeds has been increased by Tk1 to Tk108.50, while the remittance dollar rate has been hiked by Tk0.50 to Tk109.
The import-settlement dollar rate has also increased by Tk0.50 to Tk109.50. Banks can, however, make a profit by Tk1 per dollar, but the rate cannot cross the Tk109.50 threshold.
The decision was taken at a meeting of the Bangladesh Foreign Exchange Dealers Association and the Association of Bankers, Bangladesh (ABB).
In the previous meeting last month, a new rule was established stating that the interbank dollar rate should not exceed Tk109.
If a bank’s average cost of purchasing a dollar is Tk107.50, it can charge customers a maximum of Tk108.50. However, if the average cost of purchasing a dollar is Tk108.70, the bank can charge a maximum of Tk109 when selling it.