DCCI for narrowing gap in forex rates of NCBs, private banks
Star Business Report
Dhaka Chamber of Commerce and Industry (DCCI) has urged the Bangladesh Bank to take initiative to minimise the gap between the foreign exchange rates quoted by nationalised commercial banks (NCBs) and private banks.The chamber in a statement issued yesterday said the rate of dollar in the state-owned banks to settle letter of credit (L/C) on Tuesday was Tk 59.20 whereas the rate in the private banks ranged between Tk 61.65 and Tk 61.70. As a result, the cost of L/C in the private banks has increased compared with the nationalised banks, the chamber said. The difference between the prices of dollar has caused an unstable situation in local foreign exchange market, said DCCI. The situation prompted currency buyers to go to NCBs to buy dollar at lower rates while sellers crowded local and foreign private banks to sell green back at higher prices, the chamber said.
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