Dhaka, Bangladesh (BBN) – The exchange rate of Bangladesh Taka (BDT) depreciated by maximum eight paisa more 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 80.03 against BDT 79.95 of the previous working day till the report was filed at 12:17 pm (local time).
“The local currency may depreciate more against the US currency in the coming days due to lower supply of the greenback in the market,” a senior treasury official of a leading private commercial bank (PCB) told BBN in Dhaka.
He also said the BDT had also depreciated by more than 39 paisa against the US dollar at customer level on Monday.
“Such depreciating trend of the local currency against the US dollar may continue,” he hinted.
However, the average exchange rate of US dollar rose to BDT 82.7217 for bills for collection (BC) on the day from BDT 82.3272 of the previous day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
On the other hand, the inter-bank call money rate remained stable in the range between 3.00 per cent and 4.50 per cent on Monday 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 70.66 on the day from BDT 64.83 billion of the previous working day, according to the central bank latest statistics, released on Tuesday.