The Bangladesh Foreign Exchange Dealers' Association (Bafeda) and the Association of Bankers, Bangladesh (ABB) recently adjusted the exchange rate of the US dollar at Tk109.50 for both the export proceeds and remittances.
As a result, remittances and export proceeds will be bought at the same price after almost a year.
In a meeting of the two organizations last week, the dollar rate for remittance was raised by Tk0.50 and export proceeds by Tk1.
Earlier, on July 31 the dollar rates for export proceeds and remittance were set at Tk108.50 and Tk109 respectively.
The new rate will be implemented from 3 September, said Bafeda officials.
According to the decision taken in the meeting, banks will sell dollars at Tk110 for import settlement, increased from Tk109.50.
According to Bangladesh Bank data, Bangladesh received $1.32 billion in remittances through banking channels in the first 25 days of August this year.
In July, remittance receipts stood at $1.97 billion.
Remittances totalled $21.61 billion in FY23, up by 2.75% over the previous fiscal year.
On 12 September last year, the dollar price for remittances was set at Tk108, while it was Tk99 for exporters.
Since then, Bafeda and ABB have increased the dollar price for exporters 13 times and changed the exchange rate for remittances seven times.
