Bangladesh, April 29 -- Bangladesh Bank (BB) has informally advised commercial banks to reduce their US dollar buying rates, setting a ceiling of Tk122.85 for remittance purchases, in a move aimed at stabilising the foreign exchange market, officials have said.
The latest guidance represents a slight reduction from the
Tk122.90 cap introduced on 13 April, signalling the central bank's ongoing effort to gradually ease dollar rates in the domestic market.
However, the step has attracted criticism from bankers and economists, who argue that such frequent and informal interventions deviate from standard market practices.
Although BB has introduced a reference exchange rate framework, critics contend that verbal instructions to influence rate...