Trading in local currencies among SAARC countries to boost economic growth
==========

Trading in local currencies among SAARC countries has immense potential for economic stability, growth, and regional cooperation. Collaborative efforts, policy innovation, and strategic agreements on local currencies can pave the way for more resilient and integrated regional economies. The seminar on 'Trading in local Currencies: Problems and Prospects for the SAARC Countries' was organized by Bangladesh Bank. Bangladesh Bank Governor Abdur Rauf Talukder, Chief General Manager of Reserve Bank of India Aditya Gayha, Secretary of the Ministry of Finance Md Khairuzzaman Majumdar, Deputy Governor of Bangladesh Bank Md. Habibur Rahman, and Executive Director Saira Yunus spoke at the event. The US dollar has been dominant in international trade, but many countries are seeking alternatives due to geopolitical tensions, economic sanctions, and imbalances. By trading in local currencies among SAARC countries, dependence on the US economy can be reduced, increasing economic stability and reducing exchange risk and transaction costs. Challenges include establishing strong bilateral agreements, cooperation frameworks, ensuring stability and convertibility of local currencies, and maintaining trade balance.



https://bangladeshpost.net/posts/trading-in-local-currencies-among-saarc-countries-to-boost-economic-growth-141559