Dhaka, Bangladesh (BBN)- The local currency has appreciated continuously against the US currency in the recent months despite the central bank intervention in the forex market.
Bangladesh Taka (BDT) appreciated by 1.31 percent against the greenback in the first 70 days of the current calendar year, thanks to increase the inflow of foreign exchange in the recent months, bankers said.
The US dollar was quoted at BDT 78.70-BDT 78.71 in the inter-bank forex market on Monday against BDT 79.7500 on January 1, 2013.
“We expect that the demand for the US dollar will rise by the end of this month following settlement of deferred import payments,” a senior treasury official of a foreign commercial bank told BBN in Dhaka.
He also said the demand for the greenback did not pick up in February as significant amount of payments were deferred during the month, which trend has been increased recently.
BBN/SSR/AD-12Mar13-11:47 am (BST)