Bangladesh and India will begin trading in rupees this month, with their central banks making all necessary preparations. Beginning July 11, exporters in Bangladesh will receive export revenues in rupees, with the equal amount used to satisfy import bills.
Trading in taka will begin later.
The move follows the Reserve Bank of India's decision last year to allow overseas trade to be settled in Indian currency.
Sonali Bank and Eastern Bank of Bangladesh have received permission from the Reserve Bank of India to open special accounts for rupee transactions.
The Bangladesh Bank has also decided to launch a taka-rupee-based debit card in September, aimed at saving US dollars. The card will allow users to make payments using taka and spend Indian rupees while travelling to India.
At present, Bangladesh exports are worth some $2 billion to India and imports are worth nearly $14 billion, official data show.
.jpg "Technology in Cancer Care: A story of evolving paradigms")
.jpg "Bringing Shop Floor to Manufacturer's palm: Smart Factory Solutions for tomorrow")
