Bangladesh, India set to launch trading in rupee on 11 July
Dhaka and Delhi are all set to start trading in rupee as the central banks of the two neighbours have made all the necessary arrangements to make this happen.
According to the agreed trading mechanism, Bangladeshi exporters will now be able to get export proceeds in rupee from 11 July, and the equivalent amount will be used for import bill settlement, sources at the Bangladesh Bank said.
Bangladesh Bank Governor Abdur Rouf Talukder is expected to attend the launching event to be organised by the High Commission of India in Dhaka on 11 July.
The move follows the last year's decision of the Reserve Bank of India to allow the settlement of international trade in Indian currency.
At present, Bangladesh exports worth some 2 billion US dollar to India and imports worth nearly 14 billion dollar, according to official data.
Meanwhile, Sonali Bank and Eastern Bank got approval from the Reserve Bank of India to open special accounts for rupee transactions.
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