Bangladesh Bank Adopts Crawling Peg System for US Dollar Exchange Rate

The Bangladesh Bank has implemented a crawling peg exchange rate system, which allows for adjustments within a specified range for a currency with a fixed exchange rate, for spot purchases and sales of US dollars. Effective immediately, a crawling peg mid-rate has been set at BDT117 per US$1. Scheduled banks are now permitted to buy and sell US dollars freely around the crawling peg mid-rate with their customers and in interbank transactions.