Uniform conversion scale to relieve dollar emergency

The specialists have chosen to set a uniform unfamiliar money conversion standard both for merchants and exporters, in a bid to battle the predominant dollar emergency.

From here on out, every one of the banks will set a cost through conference and unfamiliar monetary forms will change hands in the country at the proper cost. The national bank will screen what is going on consistently.

The choice came at a gathering of Bangladesh Bank with the Association of Bankers Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers Association (BAFEDA). BB lead representative Fazle Kabir, ABB administrator Selim RF Hussain, BAFEDA director Ataur Rahman and different authorities went to the gathering.
Md. Serajul Islam, the representative of BB and its chief, said the continuous offer of dollar will proceed. Bafeda and ABB will fix a trade cost for dollars and all banks will follow the rate while changing out the commodity income and settlements.

In any case, a broker present at the gathering, said that the drive wouldn’t moderate the overall emergency. The conversion standard will continue to rise except if the stockpile of greenback to the market is expanded.

“We need to settle on practical choices, rather than controlling the market by holding up the dollar cost. That would be better for the country,” he said.