Govt mulls market-based foreign currency exchange rates

 

Finance serve AHM Mustafa Kamal Wednesday said that the public authority is thinking about presenting the market-based unfamiliar cash trade rates in the nation, reports BSS.

"We're considering going for market-based unfamiliar cash trade rates," he said.

Finance serve AHM Mustafa Kamal Wednesday said that the public authority is thinking about presenting the market-based unfamiliar money trade rates in the nation, reports BSS.

"We're considering going for market-based unfamiliar money trade rates," he said.

"Thus, we'll bit by bit go towards market-based paces of unfamiliar cash," he added. Kamal additionally believed that exceptional economies of the world likewise manage the unfamiliar cash rates in such manner.

Answering one more inquiry on re-fixing the bank loaning rates, he precluded any chance of any vertical or descending change in the loaning rates against the current paces of 6 and 9 percent premium on stores and bank advances. 

"The ongoing loan fees between 6-9 percent are working appropriately", he said.

He said it is exceptionally extreme in nations like Bangladesh to contain expansion by expanding or diminishing financing cost adding that the national bank here finishes the work in two ways by going to monetary lengths and the money related arrangement.

At the point when gotten some information about the country's unfamiliar trade hold, he said the unfamiliar money save is in great position.

"Our settlement is expanding while trade is rising and import is diminishing", he said asserting that there is no emergency in the unfamiliar money market.

Kamal said that the nation saw internal settlement of $24 billion in a solitary year while it is likewise getting more than $2 billion settlement consistently by and large.

He said the manner in which the nation has been getting internal settlements, it wouldn't require a lot of investment to cross the $48 billion imprint unfamiliar cash save.

Answering one more inquiry on import of fuel oil from Russia in Russian money, the money serve said conversations are happening in such manner, however it is yet to be settled.

"Be that as it may, in such case Bangladesh should do what through money trade. Russia needs to acknowledge our money first", he said.