Home Bangladesh Value of Taka decreased by 25 paisa
Bangladesh - Bank & Finance - May 10, 2022

Value of Taka decreased by 25 paisa

Staff Correspondent: The price of US dollar has risen in the country in a day. On Tuesday (May 10), the dollar is being traded at Tk 86.70 per dollar in the interbank currency market. The previous day was Tk 86.45 per dollar. The rupee depreciated by 25 paise against the dollar during the period under review. This information has been known from the central bank sources.
Meanwhile, in the open market, every dollar is being traded at Tk 92 to Tk 93. Which was Tk 90 to Tk 91 a few days ago. Thus, the price of dollar is rising.
Talking to the bankers, they said that the import duty has to be paid in dollars. Due to the increase in imports in the country, the amount of liability payment has also increased. Due to the increase in demand for payment of these import liabilities, the value of dollar against the taka is increasing. However, the central bank is selling dollars against demand to banks operating in the country to keep the market stable. This is reducing the foreign exchange reserves.
Sirajul Islam, executive director and spokesperson of Bangladesh Bank, said the dollar was appreciating due to rising demand. The central bank has increased the value of the dollar considering the overall market situation.
The dollar price review showed that till January 7 this year, the exchange rate of the dollar in the interbank currency market was Tk 85.60. Which increased to Tk 86 on 9th January. On March 23, it increased to Tk 86.20. On April 26, the dollar rose by 25 paise to Tk 86.45, which on Tuesday increased by another 25 paise to Tk 86.60. In other words, the price of each dollar has increased by 90 paise in 4 months.
As a rule, a bank can keep up to 15 per cent of its capital in a foreign exchange institution. In addition, the bank has to sell dollars in the market.

Check Also

No immediate solution over Teesta water deal

Mamata expressed her displeasure Asifiqbal Thakoor, Delhi: Bangladesh Prime Minister Sheik…