Underlining losses suffered on account of the difference in the conversion rate of the US dollar, garment makers in Bangladesh have requested the Government to offer the dollar rate for export proceeds at Taka 110.70, which is the rate it has set for remittance.
As per reports, the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) has recently written to Governor of the country’s central bank (Bangladesh Bank), demanding upward revision of dollar rate for the export proceeds even if the Bangladesh Foreign Exchange Dealers Association and the Association of Bankers, Bangladesh has on 11 September decided to set dollar exchange rate ceiling for remittance at Taka 108 and for export proceeds at Taka 99.
However, the BKMEA has termed the rate discriminatory while adding exporters were getting Taka 99 for encashing export bills while the remitters were getting Taka 110.70, including 2.5 per cent incentive.
It is not acceptable, reportedly held the trade body in its letter to the Bangladesh Bank Governor while adding the dollar rates for the remittance and the export proceeds should be the same.
