Dhaka, Bangladesh (BBN) – Country’s commercial banks quoted Bangladesh Taka (BDT) against US dollar at nearly 84 at customer level on Monday, treasury officials said.
HSBC quoted BDT 84.40 at customer level followed by Citi NA and Standard Chartered Bank (SCB) of Bangladesh BDT 83.99 and BDT 83.50 respectively, according to market operators.
These foreign commercial banks (FCBs) may quote higher rate of the US dollar for their customers tomorrow (Tuesday), they hinted.
However, the average exchange rate of US dollar rose to BDT 82.7217 for bills for collection (BC) on the day from BDT 82.3272 of the previous day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
The US dollar was quoted at maximum BDT 79.95 on the same day against BDT 79.90 of the previous working day in the inter-bank foreign exchange market, they added.
“Such depreciating trend of the local currency against the US dollar may continue in the coming days,” a senior treasury official of a leading private commercial bank (PCB) told BBN in Dhaka.
Lower supply of the greenback in the market pushed up the demand for the US currency in Bangladesh in the recent months, he explained.
He also said the value of the local currency vis-à-vis the greenback is dependent on the demand for settling import payments and the availability of the latter from exports and inward remittances.