Now exporters to get Tk104 per dollar for export proceeds

All authorised dealer banks will have to follow this new rate from 1 March

Banks will now pay the dollar rate of Tk104 to bring export proceeds to the country quickly, according to rate fixed by Bangladesh Foreign Exchange Dealers’ Association (Bafeda).

All export proceeds and other inward remittances including commercial remittances irrespective of ticket size will be bought by the banks at a fixed rate of Tk104 per US dollar (instead of the earlier Tk103), reads a notice published by Bafeda on Wednesday (1 March).

In the notice, it was said that the exchange rate for dollars is being fixed for remittance with a view to stabilise the foreign exchange market and to better serve the customer of all segments.

This new rate will be effective from 1 March and all authorised dealer banks will have to follow this rate.

Also, all wage earners and white collar NRB’s remittances (only those who are entitled to receive the existing 2.50% GoB incentives) received through Exchange Houses (both for banks own Exchange House(s) and third party Exchange Houses) and formal banking channel will be bought by the banks at a rate not higher than Tk107 per US dollar,” reads the notice.

Source: TBS News

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Iram Hoque

Mohd. Iramul Hoque (Iram) completed his bachelor’s degree in Industrial Engineering in 2018 from Purdue University.

He joined Deloitte Consulting LLP as a Consulting Analyst based out of New York City having previously worked in similar roles at PricewaterhouseCoopers LLP & Landis+Gyr.

Iram left consulting and returned to Bangladesh to take up the family business. Realizing the opportunity in the capital market in Bangladesh, Iram worked relentlessly to found Columbia Shares & Securities Ltd in 2021.

Md Saiful Hoque

Md. Saiful Hoque received his bachelor’s degree in Civil Engineering from Columbia University in 1986 followed by a master’s degree from Texas A&M University in 1988. Upon completion of his Graduate Degree, he joined Gulf Interstate Engineering Company in Houston, USA serving as a Project Engineer.

He returned to Bangladesh in 1992 to join Columbia Enterprise Ltd., the family business of Shipping and Freight Forwarding services. In addition, he has built flourishing businesses manufacturing Garment’s Accessories and Fast-Moving Consumer Goods.