FE Circular No. 01: Payments through Asian Clearing Union (ACU)

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 01 Date: 18 January, 2018 All Authorized Dealers of Foreign Exchange in Bangladesh. Dear Sirs, Payments through Asian Clearing Union (ACU) Attention of the Authorised Dealers (ADs) is invited to the Paragraph 2, Chapter 3 of the Guidelines for Foreign Exchange Transactions (GFET) 2009 (Vol‐1), read with FE Circular No. 20, dated July 27, 2016 in terms of which ADs were advised to suspend operations in 'ACU Euro' temporarily until further notice. 02. To facilitate transactions under ACU mechanism, it has been decided that along with 'ACU Dollar', ADs are advised to resume transactions in 'ACU Euro' to settle current account transactions among ACU member countries. Accordingly, ‘Japanese Yen (JPY)’ has been incorporated as a settlement currency in ACU mechanism. 03. Instructions of this circular will come into effect immediately. Please bring the contents of this circular to the notice of all concerned. Yours faithfully, (Md. Kawsar Matin) Deputy General Manager Phone: 9530487