Dhaka, Bangladesh (BBN) - Bangladesh taka (BDT) on Sunday appreciated marginally by 0.03 per cent against the US dollar as the inflow of foreign currency increased in the market.
The US dollar was quoted at Tk 68.48 -Tk 68.53 in the inter-bank foreign exchange market on the day against Tk 68.50 -Tk 68.53 of the previous working day, officials said.
"The BDT had slightly appreciated earlier against the US dollar nearly one month back mainly due to increase in the inflow of foreign currency in the market," a senior official of the Bangladesh Bank (BB), the country’s central bank told BBN in Dhaka.
He also said the exchange rate of the US dollar may increase shortly as the payment for imports is expected to go up by the end of this month.
A few commercial banks were compelled to sell foreign exchange on the day to maintain their 'net open position (NOP)' within the required limit, according to market operators.
"We had to sell our surplus dollar in the market on the day to keep the NOP in line with the BB's limit," a senior treasury official of a commercial bank said.
Over the last two weeks, the inflow of foreign exchange witnessed a rise but the import payments pressure was low because of the start of the new fiscal, they added.
BBN/SI/SI/AD/21JULY08-1:56 AM