A Bangladeshi firm paid an Indian manufacturer in Indian rupee for 30 pick-up vehicles.
This month, Bangladesh and India formally began trading with the Indian Rupee (INR) as a method of payment, according to UNB.
The first shipment of tangible goods to be traded utilizing the option landed at Benapole Land Port on Tuesday night in a convoy of 30 pick-up vehicles.
Benapole Port Deputy Director (Traffic) Abdul Jalil said the thirty pick-up vans were imported by the Nita Company of Dhaka, a trading company of Bangladesh, from Indian exporter Tata Motors Ltd, also the manufacturer of the vehicles.
The pick-up vans have been kept at the transshipment yard of Benapole port.
Thirty pick-up vans were imported for Rs 12.4 million, the unit cost coming to Rs 413,000.
From July 11, Bangladesh Bank and the Indian High Commission announced the inclusion of the rupee among a basket of currencies earmarked for transactions to be settled between the two countries, their people and companies.
Most experts viewed it as a blow in favour of the ‘de-dollarisation’ drive that seeks to reduce the world economy’s dependence on the US dollar, although its impact at this stage is likely to be limited.
Bangladesh Bank Governor Abdur Rouf Talukder raised the possibility of launching a ‘Taka-Rupee Card’, perhaps in September, for the convenience of Bangladeshi travellers in India.
This has many takers potentially, in view of the expected spike in their number (Bangladeshis travelling to India) when India hosts the ICC’s ODI World Cup in Oct-Nov.
With this card, travellers would be able to make transactions in both countries – at least as the governor envisions it for now.