Dollar buy- sell gap should be Tk 1: BKMEA

The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) yesterday demanded that Bangladesh Bank narrow down the gap in the exchange rate between the US dollar and the taka as they were losing money from export receipts. 

The BKMEA in a letter sent to the central bank governor said they receive Tk 99 for every dollar they earn through exports but they also have to buy each dollar for anywhere from Tk 105 to Tk 106 from banks for import purposes.

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Mohammad Hatem, executive president of the BKMEA, said the gap should be a maximum of Tk 1 so that both exporters and importers can benefit.

The BKMEA also urge to take note of deferral payments faced by local exporters from international retailers and brands because of the Russia-Ukraine war.