Dhaka, Bangladesh (BBN)– The Bangladesh Taka (BDT) gained some ground against the greenback during the week of August 18 to August 21 last as well trading in the range of 77.43 levels.
The country’s foreign exchange (forex) market experienced adequate liquidity because of comparative lower import volume against increased inflow of wage earners.
The forex dealers do not foresee any drastic volatility in USD/BDT rate in the coming week, however somewhat more appreciation of BDT against USD will not be surprising in the context of current market situation.
The Bangladesh Bank (BB) intervenes in the inter-bank foreign exchange market whenever necessary through buying the greenback from the commercial banks to keep the foreign exchange market and the BDT currency stable.
The average daily inter-bank USD/BDT transaction volume was about $22.50 million against around $45.43 million of the week before.
Most of the banks kept their published foreign exchange rates unchanged last week. The USD/BDT selling rates for importers of major foreign and private banks was at 77.65-78.20, while USD Buying rates from exporters were at 76.65-77.20.
For non-commercial payments such as Tele Graphic Transfer as donations, wage earners remittance, dollar drafts etc. The average T.T Selling rate was at 77.8832 on the last working day.
USD/BDT SWAP market last week was very much active. The daily average volume of swap transaction was around $40.85 million.
BBN/SSR/AD-23Aug14-4:12 pm (BST)