The demand and supply of foreign currencies will see a balanced condition by next January-February hopefully, said BB: Bangladesh Bank on Monday, 14 November.
“Media reports saying the opening of LCs have been suspended are not true,” central bank spokesperson Abul Kalam Azad said in a briefing.
“LCs worth $1263 million were opened on the first 10 days of November and it was $4743 million in October this year,” he added.
Abul Kalam Azad further said, “Banks are opening LCs considering their foreign currencies stock.”
When asked about the news of halting LC opening, the BB spokesperson said, “When the global situation goes to a vulnerable state, this kind of rumor spreads”.
Hence, the bank regulator, in a notice today, also said that there is no bar on the opening of commercial letter of credit (LC).
BB provides dollar support in payment of government LCs opened for import of priority sectors and essential commodities (fuel, fertilizer and food) to maintain economic stability by keeping the country’s energy and food security intact, the notice added.
Besides, remittance earnings saw a 2.8pc year-on-year growth as the country received $659 million from ex-pat Bangladeshis as of 10 November this year compared to $641 million during the same period last year, according to the BB notice.
