In an attempt to reduce stress on the US dollar requirements, Bangladesh will start trading with India in rupees. Experts claim that it will save at least $2 billion dollars annually for Bangladesh. Besides, a significant portion of the dollar will be saved from the informal sector, which was spent by travelers to India for different purposes, following another initiative of dual currency cards, they said.
A former governor of Bangladesh Bank (BB) told UNB that Bangladesh's trade in Indian Rupees will start in regional trade with an alternate currency which will also incorporate Bangladesh Taka subsequently. “Bangladesh exports about $2 billion to India against India exporting nearly eight times of that amount. So, our designated banks can open accounts in Indian designated banks and put export proceeds in Rupees,” he opined.
Source: daily-sun.com
