Dhaka, Bangladesh (BBN) - Bangladesh Taka (BDT) has appreciated marginally by 0.50 per cent against US dollar in last 11 days as the inflow of the foreign currency increased in the market, officials said on Wednesday.
The US dollar was quoted at BDT 83.95-BDT 84.15 in the inter-bank foreign exchange market on Wednesday against BDT 84.45-BDT 84.48 on January 29 last, according to the central bank statistics.
“Declining trend of import payments, higher inflow of remittance and the steady growth of export earnings have helped the local currency get stronger position against the US dollar in the foreign exchange market,” a senior official of the Bangladesh Bank (BB), the country’s central bank, said.
He also said the BDT may strengthen further in the forex market since there is no possibility of paying any major import bill except the fuel oil bill of the Bangladesh Petroleum Corporation (BPC) in the current month.
“We're watching the forex market closely to keep it stable,” the BB official said without elaborating.
The supply of the US dollar normally increases in the first 10 days of each month in the market as exporters particularly apparel ones sell export proceeds to meet their salary expenses, a senior treasury official of a commercial bank told BBN.
He also said the BDT has started appreciation against the greenback nearly five months back.
BBN/SSR/AD-09Feb2-1:00 am (BST)
