Bangladesh Foreign Exchange Dealers Association (BAFEDA) and Association of Bankers, Bangladesh (ABB) have set the US dollar exchange rate for export proceeds at Tk 102.

BAFEDA and ABB took the decision at a meeting on Sunday and the new rate came into effect on Monday, according to BAFEDA press release.

However, the exchange rate for inward remittances has been kept unchanged at Tk 107.

The BAFEDA and the ABB have been fixing the official exchange rates of dollars flowing into the country through the banking channel for different sectors since September 2022.