Bangladesh's Customs Act 2023 allows foreign currency floating rates

Source:China Sport ShowRelease time:09-Nov-2023Clicks:

Article From：fibre2fashion

Bangladesh’s new Customs Act 2023 recognises floating rates of foreign currencies and imposes a 10 per cent penal tax in case of delays in releasing goods from ports that affect businesses.

Under the floating exchange rate, the currency price of a nation is set by the forex market based on supply and demand relative to other currencies. The new law scrapped the previous Customs Act of 1969.

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