US dollar exchange rate again up Tk 0.50

Amid a gradual decline in the country's foreign-exchange reserves, banks and forex dealers have once again increased the US dollar exchange rate by Tk 0.50 for remittances, export proceeds, and import payments.
This decision to revise the exchange rate follows a meeting between the Bangladesh Foreign Exchange Dealers' Association (BAFEDA) and the Association of Bankers' Bangladesh (ABB) held on Tuesday.
ABB Chairman Selim R.F. Hussain confirmed the upward adjustment of the exchange rate, stating that it would be effective from today (Wednesday).
As per the latest decision, exporters and remitters will now receive Tk 110.50 per US dollar, up from the existing rate of Tk 110.
On the other hand, importers will now need to pay Tk 111 to purchase an American greenback from banks, compared to the previous rate of Tk 110.50.
As of October 26, 2023, Bangladesh's gross international reserves amounted to US$20.90 billion, as calculated by the International Monetary Fund's balance of payments and investment position manual.

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