Dhaka, Bangladesh (BBN) - The Bangladesh Taka (BDT) is strengthening against the US dollar and showed a 0.16 percent appreciation against the greenback during the last seven days, officials said.
The US dollar was quoted on average at BDT 84.33 in the inter-bank foreign exchange market Monday against BDT 84.47 on January 29 this year, according to the central bank statistics.
“We expect that the BDT will be strengthened further in the forex market since there is no possibility to pay any major import bill this month,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
He also said the overall decline in import bill, high remittance inflow and the export growth trend helped the BDT get stronger against the dollar in the inter-bank forex market.
The BDT has depreciated by 15.55 per cent against the US dollar in 2011 due to higher demand for the greenback for settling the outstanding import bills, particularly those of fuel oil. This is the highest percentage depreciation in BDT value against the USD since 2000.
BBN/SSR/AD-07Feb12-8:20 am (BST)
