Bangladesh Bank (BB) said on Thursday that an exporter has to sell all his proceeds including bill discounting to the exporter’s dealing bank.
The BB made the decision at a meeting with the foreign exchange dealers’ association and the Association of Bankers Bangladesh (ABB) to ease the ongoing volatility in the foreign exchange market.
Bankers said exporters will lose from this decision as they would get less than what they are getting now from the volatile foreign exchange market.
Presently, merchandise exporters may retain up to 15 percent of realised FOB value of their exports in foreign currency accounts. Funds from these accounts are allowed to be used to meet bonafide business expenses, such as business visits abroad, participation in export fairs and seminars, import of raw materials, machinery, and spares, etc.
 said on Thursday that an exporter has to sell all his proceeds including bill discounting to the exporter’s dealing bank. The BB made the d){kind=link}