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 84.15 each in the inter-bank foreign exchange market on Thursday unchanged from the previous level.
In the previous week, the BDT depreciated by three poisha in the inter-bank forex) market.
The Bangladesh Bank (BB), however, sold US$44 million to the commercial banks particularly public ones in the last week for keeping the forex market stable.
The central bank is continuously providing such foreign currency support to the banks for making import payment obligations against the essential items in the recent months.
In the last week, the BB sold $21 million to the banks for making import payments, particularly for fuel-oils, fertilizer, LNG (liquefied natural gas) and capital machinery for power plants.
A total of $1.71 billion has been 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 may continue providing such foreign currency support to the banks in line with the market requirement.
The banks were quoted the US dollar at maximum BDT 84.20 each for sale of Bill for Collection (BC) on Thursday unchanged from the previous level.
No Subscription? You Are Missing Out!
Join the business leaders of Bangladesh who rely on BBN's original reporting and in-depth analysis on business scenario of the country. We send only one daily email. No Spam Guaranteed!