Business Desk :
Expatriates will get a maximum of Tk107.5 per US dollar instead of the previously fixed Tk108 for remittances from October 1.
The move by the Association of Bankers, Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers Association (BAFEDA) came amid Bangladesh Bank’s efforts to stabilise the forex market.
Some economists, however, said controlling the exchange rate may encourage the use of illegal channels like hundi by remittance senders.
Chairman of Public Research Institute (PRI) Economist Ahsan H Mansur told that this is not the right decision to attract more remittances, while the kerb market rate is more than Tk114.
It may encourage the illegal channel, which is not helpful to normalise the forex crisis, he said.
Professor Mustafizur Rahman, a distinguished fellow of the think tank Centre for Policy Dialogue (CPD) agreed with Mansur’s saying that any such control will not help the market when the demand for forex is expanding.
