Bangladesh Bank has introduced new rules to determine the future price (forward rate) of the dollar, with a fixed maximum rate set. Under these regulations, after one year, the bank can charge a maximum of 5 per cent above the Six Months Moving Average Rate of Treasury Bill (SMART) rate. 

The central bank implemented this rule through a notification issued on Sunday. The method by which interest rates are now determined is known as SMART, or Six Months Moving Average Rate of Treasury Bill. Bangladesh Bank discloses this rate at the beginning of every month. The SMART rate was 7.10 per cent in July, increased to 7.14 per cent in August, and remained unchanged in September. 

If one books dollars for the future now, they will have to pay Tk 123.35 per dollar after one year. If the pricing is done on a monthly basis, the cost will decrease each month. Currently, the dollar price for imports stands at Tk 110.  


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