Business Desk : Bangladesh Foreign Exchange Dealers Association (BAFEDA) and Association of Bankers, Bangladesh (ABB) have reduced the buying and selling rates of dollar by Tk 0.50, reports BSS.

The price for purchasing dollars for export proceeds and remittance fell to Tk 110, down from Tk 110.50 and the price of selling dollars for import settlements was set at Tk 110.50 which was Tk 111 earlier.

The new price will come into effect from Thursday.

ABB and BAFEDA on Wednesday took the decision at a meeting in the city.

Earlier on October 31, the ABB and the BAFEDA increased the official buying and selling rates for remittance and export proceeds to Tk 110.50 and Tk 111, respectively. Previously, banks could buy a dollar at Tk 110 and sell it at Tk 110.50.