The President of The Chittagong Chamber of Commerce and Industry, Mahbubul Alam, through a letter to Bangladesh Bank Governor Abdur Rauf Talukdar, has called for taking effective measures including monitoring the dollar exchange of AD banks to control the high value of the dollar against the money.
In the letter, he said that the value of the dollar has been increasing against the rupee for a long time. Bangladesh Bank has already issued many instructions to control this price. The value of the dollar has recently surpassed all previous records. Officially, the price of the dollar is between 94 rupees, but many banks are now charging up to 102 rupees per dollar for importing goods.
In the letter, he said, if this situation continues, the cost of importing industrial raw materials, daily consumer goods, medical supplies, and other necessary goods will increase, which will ultimately be borne by the consumer. According to the Bangladesh Bureau of Statistics, inflation is currently around 9% which is actually around 10% for the marginalized population. One of the main causes of this inflation is the appreciation of the dollar against the rupee. The price of every product is increasing due to an increase in import costs. If this trend continues, the rate of inflation will increase in the coming days. Bangladesh Bank fixed the same rate for dollar exchange for AD banks, but many banks are not following the instructions and charging the rate as per their wish. He mentioned that it is necessary to bring the dollar exchange of banks under the monitoring of Bangladesh Bank to overcome this situation. .
Chamber President Mahbubul Alam made a special request to the Bangladesh Bank Governor to take effective measures including monitoring the dollar exchange of AD banks to control the value of the dollar against the rupee to reduce the inflation of all kinds of essential products including consumer goods and the cost of industrial production.