Uniform exchange rate to combat dollar crisis

The authorities concerned have decided to fix a uniform foreign currency exchange rate both for importers and exporters, in a bid to mitigate the dollar crisis.

The decision came at a meeting of Bangladesh Bank with the Association of Bankers Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers Association (BAFEDA).

Prothom Alo reports that from now on, the banks will set a price through consultation and foreign currencies will change hands in the country at the fixed price. 

The central bank will monitor the situation on a regular basis.

However, experts said that the initiative would not mitigate the prevailing crisis. The exchange rate will keep rising unless the supply of greenback to the market is increased.