Central bank asks banks to report foreign currency info within eight working days

Bangladesh Bank (BB) has directed all banks to submit information on the foreign currency transactions within eight working days.

The central bank came up with this directive on Wednesday as many banks are not regularly submitting such information or even if they are submitting, they are doing it incorrectly.

Because banks are not regularly submitting foreign currency information, it is causing issues in calculating the balance of payments and in formulating and implementing monetary policy, it said.

All previously issued circulars, circular letters, and other directives on Foreign Exchange Dashboard reporting will remain in effect and must be adhered to, according to the BB directive.