Banks have been allowed to take remittances by offering additional Tk2.75 to Tk112.75 per dollar in a desperate effort to boost the inflow of the greenback, which went down to a 41-month low in September.
Considering the 2.5% incentive offered by the government, remitters will now receive Tk115.50 per dollar if they send the money through the banking channel.
The Association of Bankers Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers Association (Bafeda) reached the decision during an emergency meeting on Friday, a weekly holiday in the country, confirmed by Mashrur Arefin, managing director and CEO of City Bank.
An order in this regard is expected to be issued today.
At the meeting, the leaders of two organisations conveyed that, moving forward, each bank can provide an incentive of up to 2.5% above the predetermined exchange rate of Tk110 per dollar for…
