But there are other dollar outflows that need to come down."Īnd the arrangement with the RBI would help on this front.ĭas is on board with the idea of the dual currency and the two central banks would be working on the modalities. It is now possible to meet the import bills with the export proceeds and remittance inflows. The import bills have come down because of the measures taken. "The pressure on reserves has come down a lot. This was brought up at Wednesday's meeting of the National Economic Council chaired by Prime Minister Sheikh Hasina, according to people with direct knowledge of the discussions.Īt the meeting, Talukder said it would also alleviate the pressure on foreign currency given the large volume of payments to India. The exchange rate would be derived from the two currencies and not be worked backwards from the exchange rate of the dollar.įor Indian businesses, this arrangement would mean they would get their bills cleared faster as no dollars would be involved. For Bangladeshis visiting India, they would have a dual currency card that they can load with Indian rupees before travelling and vice versa.
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