Local Bangladeshi companies want upward adjustment of taka against US dollar. The value of local currency has been remained more or less fixed at 78 since June 2013. They want this adjustment because Indian rupee has fallen in recent times.
According to the local exporters, some particular products, like low-end apparels, ceramics, vegetables, jute yarn etc. are affected for decreasing of the rupee’s value.
The president of Exporters Association of Bangladesh said that the government can increase incentives to make counterbalance in the foreign exchange earning sectors as they urged in a letter sent to the Ministry of Finance to “devalue” the local currency.
There are many products like ceramics, vegetables, handicrafts that have to compete with Indian products. Indian traders get more advantage over local counterparts for their wider capital base and local raw materials.
Managing director of Evince Textile said that the government can introduce dual exchange rates soon and exporters may receive higher value of every dollar.
The exporters usually get financial gains for currency depreciation but suffer when the opposite happens. The local exporters nevertheless get benefits if they import raw materials from India.
The president of Betel Leaf Exporters Association said that their competitiveness in the global market had fallen recently to the falling value of rupee.
According to the local exporters, some particular products, like low-end apparels, ceramics, vegetables, jute yarn etc. are affected for decreasing of the rupee’s value.
The president of Exporters Association of Bangladesh said that the government can increase incentives to make counterbalance in the foreign exchange earning sectors as they urged in a letter sent to the Ministry of Finance to “devalue” the local currency.
There are many products like ceramics, vegetables, handicrafts that have to compete with Indian products. Indian traders get more advantage over local counterparts for their wider capital base and local raw materials.
Managing director of Evince Textile said that the government can introduce dual exchange rates soon and exporters may receive higher value of every dollar.
The exporters usually get financial gains for currency depreciation but suffer when the opposite happens. The local exporters nevertheless get benefits if they import raw materials from India.
The president of Betel Leaf Exporters Association said that their competitiveness in the global market had fallen recently to the falling value of rupee.
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