Dhaka, Bangladesh (BBN) – The exchange rate of Bangladesh Taka (BDT) depreciated by five paisa against the US currency in early hour transactions on Wednesday in inter-bank foreign exchange (forex) market.
The US dollar was quoted at maximum BDT 79.30 against BDT 79.23-BDT79.25 of the previous working day till the report was filed at 12:16 pm (local time).
“The local currency may depreciate further against the US currency in the coming days due to higher demand for the US currency in the market,” a senior treasury official of a leading commercial bank told BBN in Dhaka.
He also said the BDT also deprecated slightly against the US dollar at customer level on Tuesday following higher demand for the greenback to settle import payment obligations.
The average exchange rate of the US dollar at customer level rose to BDT 80.2038 on the day from BDT 80.1317 of the previous day.
However, the inter-bank call money rate remained stable in the range between 2.80 per cent and 4.50 per cent on the day mainly due to sufficient inflow of fund into the market.
The volume of overall transactions in the inter-bank call money market came down to BDT 62.41 billion on Tuesday from BDT 62.94 billion of the previous working day, according to the central bank latest statistics, released on Wednesday.