Remitters to get Tk 115.5 per dollar as banks offer an additional incentive

Business Desk :

Remitters will get Tk 115.5 per dollar for legal channelling of funds through the banking system as banks will offer an additional incentive along with the government’s existing incentive.

Currently, the purchase rate of a US dollar is Tk 110 and the selling rate is Tk 110.50 on the interbank exchange market. In 2019, the government started providing a 2.0 per cent incentive for inward remittances. Later, it was increased to 2.5 per cent.

Recently, the Bangladesh Foreign Exchange Dealers’ Association (Bafeda) and the Association of Bankers’ Bangladesh (ABB) held a joint meeting, according to local news portals.

During the meeting, a decision was taken to provide an additional 2.5 per cent incentive for remitters from banks along with the government’s existing incentive.

With the decision that came into effect on Sunday, the remitters will get a total of 5.0 per cent incentive from government and banks if they choose legal channels to send funds to home.