Dollar price soars to Tk119.4 for remittance

Published : Tuesday, 30 July, 2024 at 9:55 AM Count : 642

Observer Online Desk

Banks have increased the price of US dollar up to Tk119.40 after getting central bank instruction to rate hikes to lure more remittance in the legal channel.

Over a dozen banks increased the US dollar exchange rate on Monday (July 29) for remittance, while the flow of expatriate remittances saw a downfall since the last week of this month.

Bank officials said that internet service closure and the recent students' quota reform demonstration impacted inward remittance flow.

To boost the flow of remittances, the Bangladesh Bank gave verbal instructions to banks on Sunday to purchase remittance dollars even at higher rates. As a result, the remittance dollar rate surged by 60-70 basis points in a span of a day on Monday.

Also read

Bangladesh gets $425m remittance in Oct

Both DSE, CSE witness fall

EXIM Bank holds 'Quarterly Business Development Conference 2024'

EU hits China with tariffs in electric car sales battle

Mominul Islam made new DSE chairman

NBR forms taskforce to reform income tax law

First drone manufacturing industry to be set up in country

DSE investors seek BSEC chairman's resignation

Editor : Iqbal Sobhan Chowdhury

Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000.
Phone: PABX- 41053001-06; Online: 41053014; Advertisement: 41053012.
E-mail: info©dailyobserverbd.com, news©dailyobserverbd.com, advertisement©dailyobserverbd.com, For Online Edition: mailobserverbd©gmail.com

🔝