BFFEA expresses concerns over ‘discriminatory’ dollar rate for exporters and remitters
The President of Bangladesh Frozen Foods Exporters Association (BFFEA) Amin Ullah has expressed deep concern over the "discriminatory" exchange rates of dollar for the exporters and the remmitters.
Suggesting a difference of Tk1 between remittance and export proceeds rates, the BFFEA president said the exporters will be affected by such a discriminatory rates.
He said exporters will be discouraged and that will result in a decline in exports.
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It would also encourage under invoicing, he added.
He complained that banks are charging Tk104-106 per dollar in import LC settlement although the policymakers proposted Tk1 gap between selling and buying rates of the greenback.
On Sunday, banks operating in Bangladesh announced that they have set the maximum exchange rate of the US dollar against taka for export-import bills and remittances.
The rate for inward remittances has been set at Tk108 and Tk99 for export proceeds that have taken effect from 12 September onwards.
