Bangladesh to adopt single exchange rate
Central bank raises interest rates as it struggles to stem inflation and build reserves
Bangladesh will “adopt a unified and market-driven single exchange rate regime” in the third quarter of this year. Bangladesh Bank announced the move in its monetary policy statement for the second half of 2023.
The policy fulfils pledges made to the International Monetary Fund as part of a loan package approved in January.
Bangladesh has had a managed floating exchange rate regime since May 2003. However, the central bank has established certain preferential rates, with different prices for
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