The dollar exchange market in Bangladesh is undergoing a dynamic change and it is predicted to contribute significantly to the growth of the country’s digital economy. With the boom of e-commerce and due to the increasing number of freelancers who need to receive secure online payments, there is a growing demand for online dollar exchanges. Let us explore the impact this trend is having on the financial ecosystem in Bangladesh. History and Concept Online exchange refers to the buying and selling of any particular currency, mainly the US dollar, electronically. This system allows individuals and companies to reach a global clientele with no need for a physical visit to the bank. How It Works Globally The use of peer-to-peer (P2P) platforms, online dollar exchange, and international transactions is made possible through Centralized Systems whereby dollars are converted to other currencies with ease and efficiency. The Current Scenario in Bangladesh Growth of Online Transactions In Bangladesh, there is a steady rise in online Dollar buy sell BD owing to the increasing number of smartphone users and internet accessibility. Regulatory Framework In an attempt to foster transparency within the market, Bangladesh Bank is responsible for monitoring all foreign exchange transactions. Role of […] read more