BB asks banks to keep LC margin on onion import within 9pc

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Bangladesh Bank (BB) on Thursday asked banks to keep the interest rates on the loans used to import onions at maximum 9 per cent, reports BSS.

“The prices of onion are on an upward trend at local markets following the price hike of the key cooking ingredient in international markets,” said a BB circular issued today.

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Under the circumstances, BB instructed banks to keep the margins on opening letters of credits (LCs) for importing onions at a minimum level.

The instruction would be effective until 31 December this year.

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