The Bangladesh Foreign Exchange Dealers’ Association on Wednesday informed that banks will now pay the dollar rate of Tk 104 in specific cases to bring export proceeds to the country quickly.

‘All export proceeds and other inward remittances, including commercial remittances irrespective of ticket size, will be bought by the banks at a fixed rate of Tk 104 per US dollar (instead of the earlier Tk 103),’ as per a BAFEDA notice release issued on the day.

In the notice, it was said that the exchange rate for dollars was being fixed for remittance with a view to stabilising the foreign exchange market and to better serving the customer of all segments.

This new rate will be effective from March 1 and all authorised dealer banks will have to follow this rate.

‘Also, all wage earners and white collar NRB’s remittances (only those who are entitled to receive the existing 2.50 per cent GoB incentives) received through Exchange Houses (both for banks’ own exchange houses and third party exchange houses) and formal banking channel will be bought by the banks at a rate not higher than Tk 107 per US dollar,’ read the notice.