The fixed price of the dollar is no more

The fixed price of the dollar is no more

Photo by Alexander Mils: https://www.pexels.com/photo/person-holding-100-us-dollar-banknotes-2068975/

The fixed price of the dollar is no more. Bangladesh Bank had fixed the price last Sunday as the dollar continued to rise. However, due to lower prices, expatriate income has decreased and exporters are not cashing in. As a result, some private sector banks fell into crisis yesterday to meet the import bill.

 

In such a situation, Chairman of Association of Bankers Bangladesh (ABB) and Managing Director of BRAC Bank Selim RF Hossain discussed the overall situation with the concerned persons including Governor of Bangladesh Bank Fazle Kabir at 7 pm on Wednesday. In this, Bangladesh Bank agreed to lift the dollar price limit. 

 

However, the central bank will intensify supervision even if the fixed price is lifted. So that no one gets a chance to make a profit by creating an artificial crisis. The value of the dollar does not go out of reach at once.