Bangladesh’s banks’ excess liquidity decreases slightly

Bangladesh Taka. BBN file photo

Dhaka, Bangladesh (BBN) –The exchange rate of Bangladesh Taka (BDT) against the US dollar crossed 82 taka at customer level on Thursday.
The average exchange rate of the local currency increased by nearly 27 paisa to BDT 82.0989 on Thursday from BDT 81.8291 of the previous working day, according to a treasury official of a leading private commercial bank.
“The depreciating mode of BDT increased against the greenback significantly in the last two days mainly due to settlement of import-payment obligations particularly for petroleum product,” the treasury official explained to the BBN Thursday evening.
He also said the depreciating mode of the BDT against the US currency may continue in the coming days if the central bank of Bangladesh does not intervene into the market.
On the other hand, the depreciating mode of Bangladesh Taka against the US dollar continued during the evening transactions on Thursday in the inter-bank foreign exchange (forex) market.
The US dollar was quoted at maximum BDT 79.90.
In the opening trading, the exchange rate of Bangladesh Taka (BDT) depreciated by maximum three paisa more against the US currency from the previous working level. That means on Wednesday, the American currency was quoted at maximum BDT 79. 79.87 and today it stood at BDT 79.90.
“The depreciating mode of the Bangladesh Taka continued due to higher demand for the greenback in the market for settlement of import payment obligations,” a senior treasury official of a leading commercial bank told the BBN in Dhaka Thursday evening.
“The local currency may further depreciate in the coming days,” the treasury official hinted.
The US dollar was quoted at maximum BDT 79.85 on Tuesday.
On Monday, the American currency was quoted at maximum BDT 79.81- BDT 79.82.
On Sunday, the US dollar was quoted at maximum BDT 79.80.
On the last working day of the last week, the US dollar was quoted at maximum BDT 79.79 – BDT 79.80 during the evening trading.
BBN/SA/ANS