Dhaka, May 16 -- Despite implementation of market-based exchange rate, the US dollar price for import Letter of Credit (LC) has remained stable at around Taka 122, sources said.

Bangladesh Bank (BB) finally announced a shift to a market-based exchange rate system on Wednesday,, allowing market participants to trade dollars at freely negotiated rates to get IMF loan confirmation.

To this end, the treasury head of commercial banks held an informal meeting on Thursday and decided to trade foreign currency at Taka 122.

A treasury head of a bank said preferring anonymity that treasury head of around 50 banks participated yesterday's virtual meeting and they have taken decision to sell dollar for import LC at Taka 122.

They are also offerin...