Use of multiple currencies instead of being overly dependent on the US dollar in international trade may ease the pressure on foreign exchange reserves and help overcome the current crisis, said the chief of a leading chamber yesterday.

Being one of the largest trading partners, Bangladesh imports nearly $15 billion worth of goods from China in a year. Nearly $10 billion worth about industrial raw materials, cereals and intermediate goods also come from India, the second largest import source.

The Bangladesh government itself also imports goods for the implementation of different mega projects.

The government and private sector businesses can use the Chinese renminbi and the Indian rupee for importing goods from the two countries

The government and private sector businesses can use the Chinese renminbi and the Indian rupee for importing goods from the two countries

So, the government and the private sector can use the Chinese renminbi and Indian rupee for importing goods from the two countries, said Md Saiful Islam, president of the Metropolitan Chamber of Commerce and Industry.

Adopting alternatives to the dollar could be taken up, at least for a temporary period, he said.

Such measures are only for a certain period to help stabilise the forex reserve with the central bank, as globally the dollar is the main currency for international trade, Islam said.

Last week, Islam suggested that the central bank introduce the Chinese renminbi for international trading purposes for a limited period. If the renminbi is allowed, local importers will buy it from banks instead of the dollar to open letters of credit to import goods in bulk, he said.