BBN file photo
Dhaka, Bangladesh (BBN) – Country’s commercial banks quoted Bangladesh Taka (BDT) against US dollar at nearly 85 at customer level on Tuesday, treasury officials said.
Citi NA and Standard Chartered Bank (SCB) of Bangladesh quoted BDT 84.80 while HSBC offered at BDT 84.75 to their customers, they added.
These foreign commercial banks (FCBs) are quoting higher rates of the US dollar for their customers in the last couple days that have pushed up the overall demand for the greenback in the market, according to the market insiders.
However, the average exchange rate of US dollar rose to BDT 83.2883 for bills for collection (BC) on the day from BDT 82.7217 of the previous day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
The US dollar was quoted at maximum BDT 80.03 on the same day against BDT 79.95 of the previous working day in the inter-bank foreign exchange market, they added.
Lower supply of the greenback in the market pushed up the demand for the US currency in Bangladesh in the recent months, a senior treasury official of a leading private commercial bank 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.
BBN/SSR/AD