BBN file photo

Dhaka, Bangladesh (BBN) -The exchange rate of Bangladesh Taka (BDT) depreciated maximum two paisa against the US dollar in the inter-bank foreign exchange market in early hour transactions on Monday.

The US dollar was quoted at BDT 80.70 against BDT 80.68 of the previous working till the report was filed at 12:40 pm (local time).

“The BDT depreciated slightly against the US currency in the inter-bank forex market mainly due to higher demand for the greenback in the market,” a senior treasury official of a leading private commercial bank (PCB) told BBN in Dhaka without elaborating.

On the other hand, the local currency has maintained appreciating mode against the US dollar continuously at customer level for clearing import payment obligations.

However, the average exchange rate of US dollar came down to BDT 81.5223 for bill for collection (BC) on Sunday from BDT 81.7251 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
Meanwhile, the banks quoted at BDT 80.30-BDT 80.70 to the remitters for telegraphic transfer (TT) of their funds while the US dollar quoted at BDT 80.00- BDT 80.60 for purchasing export proceeds, according to the BBN early hour monitoring report.