Regulatory Alerts2023-10-30
Added
Realization of Export Proceeds
Delayed export proceeds are permitted to be encashed at the prevailing exchange rate, a flexibility that remains valid until December 31, 2023. This directive applies to Authorized Dealers in Bangladesh and supersedes previous instructions requiring the application of the 'due date' rate for amounts repatriated beyond four months. Other relevant instructions remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 18 Date: October 30, 2023 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Realization of export proceeds Please refer to paragraph 2 of FE Circular No 04, dated March 06, 2023 in terms of which Authorized Dealers (ADs) are allowed to apply prevailing exchange rate for encashment of export proceed into Taka, whereas make payment to exporters applying the rate of ‘due date’ of realization of export proceeds for the amount repatriated beyond the prescribed period of four months. 02. It has now been decided that delayed export proceeds are allowed to be encashed in the prevailing exchange rate. This flexibility shall remain valid till December 31, 2023. Other relevant instructions shall remain unchanged. ADs are advised to bring the above instructions to the notice of their relevant customers. Yours faithfully,
(Md. Sarwar Hossain) Director (FEPD) Phone: 9530123