Trade settlement between Bangladesh and India in Indian rupee began on Tuesday with the expectation of reducing dependency on the dollar, transactional costs, and time.
The trading in rupees was launched at a ceremony jointly organised by the Bangladesh Bank and the High Commission of India in Dhaka at the Le Méridien Hotel in the capital Dhaka on the day.
Bangladesh Bank governor Abdur Rouf Talukder attended the programme as chief guest.
“The trade position between India and Bangladesh has witnessed remarkable growth with both countries benefiting from their economic cooperation,” observed the BB governor, highlighting a significant expansion in the bilateral trade over the years.
Senior commerce secretary Tapan Kanti Ghosh, Indian high commissioner in Dhaka Pranay Verma, and Federation of Bangladesh Chambers of Commerce and Industry president Jashim Uddin, among others, were present.
The Indian high commissioner expressed hope that both countries would benefit from the arrangement.On July 11, 2022, the Reserve Bank of India issued a notification, allowing the settlement of international trade in Indian rupee.
