Dhaka, Bangladesh (BBN)- The local currency depreciated further against the US dollar on Tuesday despite of intervention in the market through selling the greenback to the commercial banks by the Bangladesh Bank (BB).
The Bangladesh Taka (BDT) depreciated by 0.03 per cent against the US currency in a single day in the inter-bank foreign exchange (forex) market, following an increased demand for the greenback to settle import payment obligations by the commercial banks.
The US dollar was quoted at BDT 77.72-BDT 77.77 in the forex market Tuesday against BDT 77.72 in the previous working day, according to the market operators.
On the other hand, the rate of greenback for BC (bills for collection) selling at customer level came down to maximum BDT 79.10 on the day from BDT 79.20 in the previous day.
The demand for the US dollar picked up recently mainly due to higher import payment pressures particularly for petroleum products, fertiliser, capital machinery and scrap vessels.
BBN/SSR/AD-02Dec14-11:29 pm (BST)