The managing directors of five private banks have pointed out several problems in the foreign currency market and suggested increasing the dollar exchange rate to alleviate the crisis.
“Banks are unable to open letters of credit (LCs) due to a dollar crisis. In such a situation, increasing the dollar exchange rate will encourage a higher inflow of dollars,” said one of the managing directors during a meeting with Bangladesh Bank Governor Abdur Rouf Talukder on Sunday.
“We have informed the governor that many banks cannot make foreign payments. Additionally, foreign loans are also decreasing,” he told The Business Standard, wishing anonymity.
The governor had an hour-long informal meeting, starting at 3pm, with the managing directors of Brac Bank, City Bank, Prime Bank, Mutual Trust Bank, and Eastern Bank to gain insights into the overall market situation in the country amidst…
