Dhaka, Bangladesh (BBN)– The ongoing deprecation trend of Bangladesh Taka (BDT) continues in early hours transactions on Tuesday in inter-bank foreign exchange (forex) market.
The US dollar was quoted at BDT 78.41-BDT 78.44 in the forex market on Monday, against BDT 78.41-BDT 78.42 of the previous working day. It was BDT 78.40-BDT 78.42 on Thursday.
“Such depreciating trend of the Bangladeshi Taka (BDT) against the greenback may continue in the upcoming days to meet the growing demand for the US dollar before the end of this calendar year,” a senior treasury official of a private commercial bank (PCB) hinted.
He also said an upward trend in imports in October along with purchasing of the US dollar by the central bank from the banks has pushed up the demand for the greenback in the market.
On the other hand, a declining trend in both export earnings and flow of inward remittances in September has pushed down the flow of foreign currency in the market, he added.
Meanwhile, the exchange rate of the US dollar at customer level rose to BDT 78.8915 on Monday from BDT 78.7846 of the previous working day. It was BDT 78.7837 on Thursday.
On the other hand, the inter-bank call money rate remained almost stable in the range between 2.75 per cent and 4.59 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 43.86 billion on Monday from BDT 51.06 billion of the previous data, according to the central bank statistics.