Bangladesh & India Start Trade In Indian Rupees

For the first time a Bangladeshi importer, Nita Company, imported 36 Tata Motors pickup vans worth Rs 1.23 crores by paying in Indian rupees at Benapole Land Port.

The trade in Indian rupees was earlier inaugurated on July 11, by the Bangladesh Bank Governor Abdur Raof Talukder and Indian High Commissioner Pranay Kumar Verma.

“The payment in Indian rupees will also help Bangladesh, which is going through foreign exchange reserves crisis, which is maintained in US dollars,” TBSNews reported.

The trade between India and Bangladesh totals US $16 billion out of which it exports around $2 billion and imports worth $14 billion.

The deficit in import export trade will help Bangladesh to a great extent if it makes payment in Indian rupees. Historically Bangladesh and India have always traded in US dollars