Dhaka, Bangladesh (BBN) – The Bangladesh Taka (BDT) has continued to appreciate significantly against the US dollar this week as the inflow of the foreign currency increased in the market.
The local currency gained by 1.20 per cent against the greenback in last four consecutive working days, treasury officials told BBN in Dhaka.
The US dollar was quoted at BDT 73.35-BDT 73.80 in the inter-bank foreign exchange market on Thursday against BDT 74.40-BDT 74.53 on August 18 last, according to the central bank statistics.
“The local currency has appreciated recently against the US dollar due mainly to an increase in the flow of inward remittances and the less demand for the greenback to settle import payments,” a senior official of the Bangladesh Bank (BB) told BBN.
The BB official also said the central bank is monitoring the country’s inter-bank foreign exchange market closely to keep it in a stable position.
The country received a total of $ 704.35 million in remittances during the period between August 1 and August 19 last and the flow might cross $ 1.0 billion by the end of this month, the BB data showed.
BBN/SR/AD-25Aug11-8:56 pm (BST)