Dhaka, Bangladesh (BBN) – The exchange rate of Bangladesh Taka (BDT) appreciated significantly against the US dollar on Wednesday for importers, as the central bank sold US$ 38 million to the banks.

The local currency appreciated by 0.23 per cent or 19 paisa each against the US currency, as the average bill for collection (BC) rate of the greenback came down to BDT 81.8963 on the day from BDT 82.0892 on the previous working day, according to Bangladesh Foreign Exchange Dealers Association (BAFEDA).

The substantial appreciation of BDT took place one day after it witnessed a depreciation of 30 paisa on Tuesday, they added.

They also claimed that a few number of deals were cancelled after selling of the greenback by the BB.

Market insiders said such appreciation will make imports easier, while the remitters and exporters are expected to be benefitted slightly.

In case of receiving inward funds, the local currency also appreciated slightly against the greenback on the same day.
The banks quoted one US dollar at BDT 80.7690 on the day against BDT 80.7721 of the previous working day to the remitters for telegraphic transfer (TT), the BAFEDA data showed.

However, the exchange rate of BDT remained unchanged against the US dollar in the inter-bank forex market on Wednesday.

The US dollar was quoted at BDT 80.80 each, unchanged from the previous level, according to the market operators.

BBN/SSR/AD