To resolve the dollar crisis in banks, Bangladesh Bank had directed that the local value-added portion of the repatriated export value should be cashed out on the next working day. Now Bangladesh Bank has given the option to save this income for up to 15 days. With this, exporters will be able to hold dollars for up to 15 days, with which back-to-back letters of credit and other import charges can be paid. Bangladesh Bank issued a notification on Wednesday (3 August).
Officials of Bangladesh Bank said that the problem with cashing out the entire revenue on the next day is that later dollars have to be bought at a higher price to pay the import charges. Many people are suffering from losses.
The price at which the dollar has to be sold is higher than the price at which it has to be bought. Due to this, the option to hold dollars for 15 days has been given.
It is said in the notification of Bangladesh Bank that the value-added portion of the repatriated export revenue is allowed to be stored in foreign currency for a maximum period of 15 days. With this fund, the bank can pay the exporter’s import charges other than back-to-back ones.
Earlier on 29 May, the central bank had directed that the local value addition portion of the repatriated export value should be cashed out on the next working day.
