The steeply devaluating Euro has added to the woes political unrest stricken Bangladeshi apparel exporter community. “It’s a double whammy for us,” said Atiqul Islam, President, BGMEA. The Eurozone is the largest export destination for Bangladesh, with 60 per cent, or more than US $ 14 billion, of garment items being shipped to the region every year. In September last year, each euro traded for Tk 110, but now it is trading at Tk 87, which is almost a 21 per cent decline in value. Hence the exporters are receiving less after currency conversion for the goods they shipped a few months ago.
