Following the announcement, the exporters will get Tk107.5 in the local currency against each dollar

The US dollar exchange rate has been increased by Tk0.5 to Tk107.5 per dollar for repatriated export income.

This decision was taken at a meeting of the Bangladesh Foreign Exchange Dealers Association (BAFEDA) and Association of Bankers Bangladesh (ABB), the organization of top executives of banks, which are involved in foreign exchange transactions, held on Monday.

Since September 2022, a joint committee of BAFEDA and ABB has been tasked with setting the exchange rate of taka against the US dollar, the world's reserve currency. It was meant to be a move towards a floating exchange rate, but it hasn't worked out that way.

Economists have decried the prevalence of multiple exchange rates, and called for a move towards a single, unified exchange rate, but the BAFEDA-ABB committee has so far failed to realize that demand.

Following the announcement, the exporters will get Tk107.5 in the local currency against each dollar.

On the other hand, in case of expatriate income (remittances), the dollar rate remains unchanged at Tk108.5.

Meanwhile the maximum interbank rate will be Tk109 per US dollar, also unchanged.