BBN file photo
Dhaka, Bangladesh (BBN) - The exchange rate of Bangladesh Taka (BDT) depreciated by maximum two paisa against the US currency in early hour transactions on Tuesday in the inter-bank foreign exchange (forex) market.
The US dollar was quoted at maximum BDT 80.62 against BDT 80.60 of the previous working day till the report was filed at 11:30 am (local time).
“The local currency depreciated slightly against the US currency in the inter-bank foreign exchange market due to lower supply of the greenback in the market,” a senior treasury official of a leading private commercial bank (PCB) told BBN in Dhaka.
He also said the depreciating mode of BDT against the US dollar has continued at customer level.
The average exchange rate of US dollar rose to BDT 81.6566 for bill for collection (BC) on Monday from BDT 81.5953 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
However, the banks quoted at BDT 79.9-BDT 80.4 to the remitters for telegraphic transfer (TT) of their funds while the US dollar quoted at BDT 79.90 - BDT 80.20 for purchasing export proceeds, according to the BBN early hour monitoring report.
On the other hand, the inter-bank call money rate remained stable in the range between 1.80 per cent and 4.50 per cent on Monday from 3.25-4.50 per cent of the previous level due to sufficient inflow of fund into the market.
The volume of overall transactions in the inter-bank call money market rose to BDT 59.32 billion on the day from BDT 58.77 billion of the previous working day, according to the central bank latest statistics, released on Tuesday.
BBN/SSR/AD