exposure to risk
According to experts, the rupee is not recognized as a global currency. Also, there is a risk of ending up in a unilateral currency or rupee based exchange structure. And Bangladesh is facing a huge trade deficit with India. Therefore, Bangladesh may be at risk in doing one-way transactions in rupees. Because once the process starts, it will not be limited to the trade of goods only, but it will also include the transactions of travel, medicine, education etc.
A trader involved in export-import business told this correspondent on the condition of anonymity on Sunday that there should not be a situation of Indians borrowing money from banks to meet import expenses. In such a situation, the burden of interest expenditure will increase. Then there is an apprehension that India will arbitrarily increase the rate of the rupee against the taka.
According to Bangladesh Bank data, Bangladesh imported goods worth USD 89.16 billion in the fiscal year 2021-22. Out of this, the country imported goods worth $13.69 billion from India. Bangladesh exported goods worth $1.99 billion to India in the same financial year. In the last financial year, the total import-export trade between the two countries was $15.68 billion.