The rate of LC openings in the first 11 months of the outgoing fiscal year increased 14.38 percent over the corresponding period of last year. According to Bangladesh Bank’s figures, last year LC opened worth US$ 13958.17 million for the 11 months while the amount is US$ 159565.26 million this fiscal.

The opening of letter of credit (LC) for rice, wheat, sugar, milk foods, pulses, spices, edible oil (crude), and petroleum and petroleum products increased 107.55 percent, 42.17 percent, 170.24 percent, 10.73 percent, 24.32 percent, 87.87 percent, 38.02 percent and 14 percent respectively.

LCs worth US$ 238.73 million were opened for rice import, US$ 436.54 million for wheat, US$ 355.63 million for sugar, US$ 103.80 million for milk food, US$ 209.69 million for pulses, US$ 569.49 for edible oil (crude). LC opening for importing capital machinery, which enjoyed zero-tariff facility for the outgoing fiscal year, was worth US$ 1375.29 million.