Foreign exchange restrictions and foreign exchange controls occupy a special place among the non-tariff regulatory instruments of foreign economic activity. Foreign exchange restrictions constitute the regulation of transactions of residents and nonresidents with currency and other currency values. Also an important part of the mechanism of control of foreign economic activity is the establishment of the national currency against foreign currencies.
There are foreign exchange control and currency regulations in Bangladesh. The Foreign Exchange Regulation Act of 1947 (FERA) regulates all foreign payments and any sale, exchange, lending and conversion of currencies and securities. Under the
Act, all foreign exchange
activities must be performed by an authorised dealer.
Guidelines for foreign
exchange
transactions
based on FERA issued by the Central
Bank of
Bangladesh also apply.