New Register for Workshop on How to start for NABARD 2025 (Stepwise Plan) - Apr 26, 7 PM

    Question

    Which measure has been introduced by Bangladesh and

    India to strengthen regional currency and trade, reduce dependence on the US dollar, and facilitate bilateral trade?
    A Introduction of Taka-Rupee dual currency card Correct Answer Incorrect Answer
    B Opening of nostro accounts in Bangladesh and India Correct Answer Incorrect Answer
    C Launching a trade transaction in rupees Correct Answer Incorrect Answer
    D Allowing bilateral trade with a foreign country in addition to the US dollar Correct Answer Incorrect Answer
    E Strengthening economic cooperation between Bangladesh and India Correct Answer Incorrect Answer

    Solution

    Bangladesh and India launched a much-anticipated trade transaction in rupees, a move aimed at reducing dependence on the US dollar and strengthening regional currency and trade. This is the first time Bangladesh has done bilateral trade with a foreign country in addition to the US dollar. The trade position between India and Bangladesh has seen remarkable growth, with both countries benefiting from their economic cooperation. The transaction costs during trade with India would reduce with the introduction of the Taka-Rupee dual currency card which was "almost ready to be launched from September. Banks in Bangladesh and India have been given permission to open nostro accounts, an account in a bank of another country for the purpose of foreign currency transactions. About Bangladesh Capital: Dhaka                       Currency: Taka                   Prime Minister: Sheikh Hasina

    Practice Next