Regulatory Alerts2009-10-01
Added · Updated
FE Circular No. 18: Revocation of Forward Sales Covering Conditions
Bangladesh Bank revokes the requirement for authorized dealers to cover at least 50% of forward sales with forward purchases, with the remainder covered by interbank forward purchases or sight export bill purchases. Consequently, the instruction in Section 08, Chapter 04 of the Guidelines for Foreign Exchange Transactions (Vol-1), 2009 mandating this 50% coverage is considered deleted. Other existing instructions regarding forward dealings remain unchanged.
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