The Bangladesh Financial institution has really useful individuals to make use of bank cards as a substitute of money when travelling overseas in a transfer to avoid wasting {dollars}.
Central financial institution spokesperson Serajul Islam mentioned, “The variety of expatriates leaving the nation this yr, is greater than these coming in, leading to a lower in greenback influx. That’s the reason the Bangladesh Financial institution encourages those that are going overseas for numerous functions together with medical, training and journey to make use of bank cards, as a substitute of {dollars} in money.”
Bangladesh is presently going through a greenback disaster resulting from excessive imports in opposition to exports. The federal government has taken numerous measures to curb imports.
Letter of credit score (LC) settlements fell by $1.17 billion prior to now month, as the federal government tried to ease strain on international trade reserves amid imports outpacing exports.
In response to the report, LC settlement was $6.58 billion in July, down from $7.53 billion within the earlier month of June. The LC settlements fell by 9.23% through the one-month interval.
Apart from, banks opened LCs price $5.55 billion in July, a lower from the $7.96 billion registered in June. Consequently, the LC opening decreased by 30.20% in July.
The spokesperson mentioned, “In FY22, the central financial institution offered $7.7 billion to banks. The nation’s reserve dropped to $39.5 billion on Wednesday due to steady greenback gross sales to satisfy import payments. Since July this fiscal yr, greenback gross sales from the reserve have stood at $1.49 billion.”
