The Bangladesh Foreign Exchange Dealers' Association (Bafeda) has asked banks not to sell US dollars to importers for more than Tk109 per Dollar as some lenders recently violated the rule.
Bafeda, a platform for banks to monitor the country's forex market, issued a circular on July 3, asking them to follow the rules strictly.
It was observed that some banks got more than Tk109 for each dollar sold to importers, the Bafeda said in the notice.
Bafeda and Association of Bankers, Bangladesh (ABB), a platform for managing directors of banks in the country, earlier took a decision to sell each US dollar for a maximum of Tk109.
Banks are allowed to charge a maximum of Tk1 as a spread over its five days rolling weighted average buying rate/cost in case of import bill settlements and interbank selling, but not exceeding Tk109 per US dollar, Bafeda also said.
As per the agreement between the two platforms, banks are allowed to mobilize the greenback from remitters by offering a maximum of Tk108.5 per US dollar apart from the 2.5% incentive given by the government.
Besides, lenders can offer a maximum of Tk107.5 for each US dollar while purchasing the greenback from exporters.
The exchange rate for importers has decreased and is now at the expected level after the issuance of the circular.
