BB targets to bring down variation between exchange rates, cap on credit card loans withdrawn
Bangladesh Bank has decided to take required measures to gradually establish a market-based, flexible and unified exchange rate regime within a 2% variation by the end of the current fiscal year, according to the monetary policy stance announced on Sunday.
The current variation between different exchange rates stands at 7% (Tk 100 to Tk 107).
The central bank hopes upon implementation of this policy, speculation and volatility in the foreign exchange market can be expected to subside.
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BB has also withdrawn the 20% interest rate cap from credit card loans.
