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Bangladesh's trade with India in Rupees will start on July 11 alongside the usual transaction method in US dollars as both the countries have completed necessary preparations in this regard, reports BSS.
Bangladesh Bank Governor Abdur Rouf Talukder and Reserve Bank of India Governor Shaktikanta Das will inaugurate the trade through virtual platform.
According to the fresh arrangement, such amount of Indian currency can be utilized to meet the import cost which will be equal to the export income in Rupees.
Officials concerned said that no bank or businessmen would be able to buy Indian Rupees through US dollars or any other foreign currencies to meet the import payments.
The trade and transactions with India in Bangladesh part will be done by Sonali Bank Ltd, Eastern Bank and the State Bank of India while the operations in the Indian side will be done by the State Bank of India and ICICI Bank.
Chief executives of the banks and high officials of the Indian High Commission in Dhaka will remain present on the occasion.
Bd-pratidin English/Golam Rosul
