DHAKA, June 1 (Xinhua) -- Bangladeshi bank has raised the U.S. dollar price for export proceeds to 107 takas, local media reported on Wednesday.
The decision was taken at a meeting of the Association of Bankers Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers Association on Wednesday.
Apart from this, banks decided to pay 108.50 takas for each U.S. dollar purchased from remitters.
Selim RF Hussain, chairman of the ABB, told journalists that the decision is aimed at easing dollar-taka exchange rate volatility.
He said they are trying to reduce the exchange rate gap between the remittances and export.
According to the banker, banks implement the new rates from Thursday.
The dollar rate for remittance and export proceeds was previously increased by one to 108 takas and 106 takas respectively.