Dhaka, Bangladesh (BBN) -The exchange rate of Bangladesh Taka (BDT) against the US dollar in both inter-bank foreign exchange market and customer level remained almost stable in early hour transactions on Monday.
The US dollar was quoted at BDT 80.53-BDT 80.55 unchanged from the previous level in the inter-bank foreign exchange market till the report was filed at 11:16 am (local time).
On the other hand, banks offered the US dollar rates between BDT 81.80 and BDT 81.10 to their customers for clearing import payment obligations. It was BDT81.94-BDT81.10 on Sunday.
However, the banks quoted at BDT 80.30-BDT 79.50 to the remitters for telegraphic transfer (TT) of their funds while the US dollar quoted at BDT 80.18-79.41 for purchasing export proceeds, according to the BBN early hour monitoring report.
The BBN prepared the report complaining the data, collected from the banks concerned.
Talking to BBN, a senior treasury official of a leading private commercial bank said the local currency may return into appreciating mode against the US currency shortly in the inter-bank forex market due to higher inflow of remittance and lower import payment obligations.
The flow of inward remittances jumped by nearly 17 per cent to US$ 807.77 million in the first 19 days of this month against $692.01 million in the same period of the previous month.
On the other hand, the actual import in terms of settlement of letters of credit (LCs) decreased by 6.42 per cent to US$ 3.55 billion in April from $3.79 billion in March. It was $3.02 billion in April 2016.
Such import trend might continue until June this year, he added.
However, appreciating of the local currency continued against against the US dollar at customer level on Sunday.
The average exchange rate of US dollar came down to BDT 81.4689 for bill for collection (BC) on the day from BDT 81.4858 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).