Forex bungling

The exchange rates displayed are not even as per the daily published rates. Usually, lower rates are displayed. Some of them even display blank rates. Here lies the trick. Passengers mostly aware of the prevailing rates get confused and start grumbling.

The dealing clerks start whispering and convince the customers to exchange the currencies at unofficial but higher rates, needless to mention without any documentation thereby depriving the state reserves. Moreover, the way the dealing clerks start wooing the passengers is very unpleasant and below the dignity of an international airport. Such scenes are not to be found anywhere. Anyone passing by the counters may witness the drama. Foreigners do feel irritated and embarrassed.

Unless they have personal interest they will not be so aggressive. It seems instead of the state a few individuals are reaping the benefits and becoming rich overnight.

Taka has become unstable and getting devalued with each passing day while we are even unable to take care of the foreign currencies that enter the country legally through the entry point. This also affects our local markets where prices remain uncertain creating tension in the minds of the common people of limited fixed income. Foreign currencies are getting rare day by day. God knows what the many private money changers outside ZIA are doing. Value of taka will get stronger subject to country's economic strength and also how much dependent we are on our own resources. Every second item of daily necessity is a foreign one, as if it is an import based country.

It also depends on forex reserves , which can only be boosted through legal conversions and by stopping flight of foreign currencies through smuggling.

I suggest all foreign money changers be put under strong surveillance and each penny must be transacted legally.