LC settlement drops by 26.6% in March

Dhaka, Bangladesh || Tuesday, 21 April 2026 || 8 Boishakh 1433

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LC settlement drops by 26.6% in March

Published : Tuesday, 21 April, 2026 at 2:47 PM, Count : 31

LC (letter of credit) settlements declined by 26.6% in March this year due to a slowdown in new business and investment in the country.

A senior official of the Bangladesh Bank confirmed the information to The Business Standard.

At the same time, the dollar rate in banking channels has started to fall again. Yesterday, several private banks traded dollars between Tk122.90 and Tk122.98, down from around Tk123.10 last week.

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Banks settled LC payments worth $4.66 billion in March, compared to $6.35 billion during the same period last year, indicating a decline in imports.

LC settlement refers to the final stage in international trade where the importer's bank pays the exporter after verifying that all contractual documents have been properly submitted.

Economists and bankers say the overall economic situation has negatively affected both LC openings and settlements. The slowdown in new business activity has reduced demand for imports, particularly capital machinery.

Additionally, uncertainty stemming from the war in March discouraged traders, as concerns grew over whether shipments would arrive even after opening LCs. Many also avoided opening LCs to hedge against potential volatility in the dollar rate.

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