BBN file photo
Dhaka, Bangladesh (BBN)- The exchange rate of the Bangladesh Taka (BDT) remained stable against the US dollar in the last week despite higher demand for the greenback for settling the import bills.
The US dollar was quoted at BDT 84.50 each in the inter-bank foreign exchange market on Thursday unchanged from the previous level.
The local currency depreciated by 60 poisha against the greenback in the inter-bank forex market from January 03 to May 06.
Earlier on April 29 last, the BDT lost its value by 10 poisha against the US currency on the same ground.
The greenback was quoted at BDT 84.50 each in the market on May 06 against BDT 83.90 on January 02 this calendar year.
On the other hand, the exchange rate of the US dollar remained stable at maximum BDT 84.50 each for sale of Bill for Collection (BC) during the period under review from the previous level.
The Bangladesh Bank (BB), however, sold US$ 72 million to the commercial banks particularly public ones in the last week for keeping the forex market stable. It was $ 25 million in the previous week.
A total of $2.25 billion was sold since July 01 of the current fiscal year (FY), 2018-19, to the commercial banks as part of BB’s ongoing support, according to latest official figures.
The central bank is continuously providing such support to the banks for making import payments, particularly for fuel-oils, fertilisers, LNG (liquefied natural gas), and capital machinery for power plants.
The demand for the US currency is gradually increasing, mainly due to higher import payments pressure, particularly of intermediate goods, capital machinery and fuel oils.
BBN/SSR/AD