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BB governor announces market-based exchange rate for dollar

 VB  Desk

VB Desk

Bangladesh Bank Governor Dr Ahsan H Mansur has announced that the exchange rate of the US dollar will be determined by the market. However, he believes that due to high export and remittance flows, the value of the dollar will not rise significantly.

He made this announcement virtually during a meeting organized by Bangladesh Bank on Wednesday. According to the Governor, this shift to a market-based exchange rate will allow Bangladesh to receive two tranches of funding from the International Monetary Fund (IMF) by June.

Dr Mansur clarified that adopting a market-based rate does not mean that the dollar will be bought at any price. He expressed his hope that the exchange rate will remain close to the current market rate for buying and selling the dollar.

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