Bangladesh Foreign Exchange Dealers' Association (Bafeda) will fix market-driven exchange rates daily for overseas money exchanges from now on.
The country's forex dealers' body also sought support of Bangladesh Bank to maintain a uniform rate for the exchange houses.
The decision was made at a meeting of the technical committee of Bafeda held Wednesday at its office in the capital.
As per the decision, the committee will recommend to the executive body of the trade-promotion organization for taking necessary measures in this connection.
The latest bankers' meeting was held at the central bank headquarters on July 25 with Bangladesh Bank (BB) Governor Abdul Rouf Talukder in the chair.
Bafeda will fix a uniform rate for the overseas exchanges considering the market situation for its members each working day, according to the decision.
Bafeda's member-banks will follow the rate for receiving inward remittances through the overseas exchanges, which are engaged in remitting money to Bangladesh.
Most of the banks are reportedly now quoting high rates to the overseas exchanges bypassing interbank foreign-exchange (forex) market rate to attract more inward remittances for settling import-payment obligations, according to market insiders.
Earlier, the central bank had asked the bankers to quote foreign- currency exchange rates to the overseas exchanges after applying due diligence and considering the situation on the inter-bank forex market.
The US currency was quoted at Tk95 each on Wednesday-- unchanged from the previous level--while most of the banks offered maximum Tk110 to the overseas exchanges for receiving inward remittances, they added.
At the same meeting, the Bafeda technical committee also discussed providing a weighted average rate of cash dollar to the Moneychangers' Association of Bangladesh each working day.
Bafeda will also be able to provide normal cash dollar rate of its member banks instead of weighted-average one to the association every working day.
Earlier on August 17, the central bank allowed the moneychangers to profit a maximum Tk1.50 between buying and selling of cash US dollars.
In that case, the moneychangers will have to collect a weighted average rate of cash dollars from the Bafeda each working day.
Under the ongoing moves, the central bank sold $50 million more directly to three state-owned commercial banks on Wednesday to help them meet a growing demand for the greenback as global price rises have led to import-cost escalation with its resultant pressures on reserves of Bangladesh, as also of many other countries.
The BB has so far injected $2.04 billion from the reserves directly into commercial banks as liquidity support for import payments in the current FY23.
In FY22, the central bank sold $7.62 billion from the reserves to the banks for the same purpose.
Bangladesh's forex reserves came down to $39.35 billion on Wednesday from $39.42 billion of the previous working day following higher sales of dollars to feed the market.