According to the ‘crawling peg’ introduced in the dollar, the bank can sell by adding two and a half percent to the intermediate rate of 117 taka. By doing this, the highest price for import settlement will be 120 taka.

Governor on Monday. The matter was clarified in the meeting of MDs of 12 banks with Ahsan H. Mansoor. A circular in this regard will be issued soon. This rate will be effective from the day the circular is issued.

Besides, the governor ordered the timely settlement of all types of foreign payments. At the same time, a proposal has been sought from the banks to reform the banking sector.

In this meeting held at Bangladesh Bank, some senior officials including two deputy governors, managing directors of four state-owned banks, five private banks and three foreign banks were present. In the meeting, the governor gave various instructions including restoring order in the banking sector, all types of LC debt including government and other foreign payments.

According to sources, on May 9, the central bank introduced the crawling peg (allowing the dollar price to fluctuate within a range) in dollar transactions in banks. In this method, the average price per dollar is fixed at 117 taka. Banks can trade at a maximum of one taka more or one taka less than this. According to this, the price of the dollar is from a minimum of 116 taka to a maximum of 118 taka.

Even though the price was set, the market did not match the dollar price. That is why the new governor took responsibility and took steps to increase the price of the dollar to match the market. According to the decision of the central bank, the price of the dollar can now increase up to a maximum of 120 taka. The average rate will be determined from this calculation. Instructions have been given to the relevant departments of the Central Bank to complete the necessary preparations in this regard.