Remitters to get Tk 107 per dollar for sending fund thru banks
RMG-led export growth has been a key driver of economic growth and job creation in Bangladesh but it remains one of the least diversified low-income countries, both in terms of products and destination, said the IMF. Photo: Star/file
Migrant workers and non-resident Bangladeshi will get Tk 107 per US dollar for sending the greenback through banks and exchange houses, according to a decision of the Bangladesh Foreign Exchange Dealers' Association (Bafeda) early this week.
The move comes as the flow of remittances, one of the main pillars of the economy, has been falling through formal channels for the last couple months.
For all latest news, follow The Daily Star's Google News channel. Bankers and analysts blamed money transfers through hundi or unofficial channels as banks were offering Tk 99 per dollar to remitters, which was much lower than the rates at the kerb market.
Following the latest decision of the association, banks will be able to offer Tk 107 for each greenback to remitters.
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