BBN file photo
Dhaka, Bangladesh (BBN) - The Bangladesh Taka (BDT) returned to appreciating mode against the US dollar in early hour transactions on Thursday in the inter-bank foreign exchange (forex) market.
The US dollar was quoted at BDT 80.54-BDT 80.56 against BDT 80.55-BDT80.56 of the previous working day till the report was filed at 11:48am (local time).
“The local currency has able to restore its strength against the greenback in the market after over six months,” a senior treasury official of a leading commercial bank told the BBN in Dhaka.
The Bangladeshi currency had begun its depreciating mode against the US currency on October 27 of 2016. The mode continues till May 17, 2017.
He also said the BDT remained almost stable against the US dollar at customer level on Wednesday.
The average exchange rate of US dollar rose to BDT 81.6440 bill for collection (BC) on the day from BDT 81.6234 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
However, the inter-bank call money rate remained stable in the range between 2.0 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 rose to BDT 69.49 billion on the day from BDT 68.67 billion of the previous working day, according to the central bank latest statistics, released on Thursday.
BBN/SS/ANS