Regulatory Alerts2024-05-08
Added
Introduction of Crawling Peg Exchange Rate System
A Crawling Peg Exchange Rate System is introduced for the spot purchases and sales of US dollars, establishing a Crawling Peg Mid Rate (CPMR) at Taka 117.00 per US dollar with immediate effect. Scheduled banks are authorized to purchase and sell US dollars freely around the CPMR in transactions with their customers and in interbank deals.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 09 Date: May 08, 2024 Managing Director/CEO Head Office of All Scheduled Banks in Bangladesh
Dear Sirs, Introduction of Crawling Peg Exchange Rate System Please refer to Exchange Rate Circular No. 01 dated May 29, 2003 regarding exchange rate arrangement by Bangladesh Bank with scheduled banks without reference to any preannounced band. 2. It has been decided to introduce a Crawling Peg Exchange Rate System for spot purchases and sales of US dollars. Under this system, a Crawling Peg Mid Rate (CPMR) has been set at Taka 117.00 per US dollar with immediate effect. Scheduled banks may purchase and sell US dollars freely around the CPMR with their customers and in interbank deals. 3. You are advised to bring the contents of this circular to the notice of all concerned. Yours faithfully,
(Md. Sarwar Hossain) Director (FEPD) Phone: 9530123