Dhaka, Bangladesh (BBN) – The exchange rate of Bangladesh Taka (BDT) depreciated by five paisa against the US currency in early hour transactions on Tuesday in inter-bank foreign exchange (forex) market.
The US dollar was quoted at maximum BDT 79.20 against BDT 79.14-BDT 79.15 of the previous working day till the report was filed at 11:35 am (local time).
“The local currency may depreciate further against the US currency in the coming days due to higher demand for the US currency in the market,” a senior treasury official of a leading commercial bank told the BBN in Dhaka.
A leading state-owned commercial bank is buying the US currency from the market to settle its import payment obligations, the treasury official explained.
He also said the BDT also deprecated against the US dollar at customer level on Monday following higher demand for the greenback to settle import payment obligations.
The average exchange rate of the US dollar at customer level rose to BDT 79.8887 on the day from BDT 79.8435 of the previous day.
However, the inter-bank call money rate remained stable in the range between 2.75 per cent and 4.50 per cent on the day mainly due to sufficient inflow of fund into the market.
The volume of overall transactions in the inter-bank call money market came down to BDT 64.04 billion on Monday from BDT 64.32 billion of the previous working day, according to the central bank latest statistics, released on Tuesday.