Dhaka, Bangladesh (BBN) – The Bangladesh Taka (BDT) remained stable against the US dollar both in the inter-bank foreign exchange market and customer level in early hour transactions on Wednesday.
The US dollar was quoted at BDT 80.60 unchanged from the previous level in the inter-bank foreign exchange market till the report was filed at 11:49 am (local time).
On the other hand, banks offered the US dollar rates between BDT 81.75 and BDT 80.05 to their customers for clearing import payment obligations.
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 80.08-BDT 79.30 for purchasing export proceeds, according to the BBN early hour monitoring report.
The currency market has fluctuated regularly in recent months with rises and falls on some occasions. In the long run, however, the BDT has stood firm over the last few weeks.
However, the average exchange rate of US dollar remained almost unchanged at BDT 81.4519 for bill for collection (BC) on Tuesday from BDT 81.4547 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
“The local currency may remain stable in the coming days against the US currency in both the inter-bank forex market and customer level following higher inflow of remittance ahead of the Eid festival,” a senior treasury official of a leading private commercial bank (PCB) told BBN in Dhaka.
On the other hand, the inter-bank call money rate remained stable in the range between 1.80 per cent and 4.50 per cent on Tuesday 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 62.71 billion on the day from BDT 71.04 billion of the previous level, according to the central bank latest statistics, released on Wednesday.