Dhaka, Bangladesh (BBN) – The exchange rate of Bangladesh Taka (BDT) depreciated by five paisa 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 78.76-BDT 78.81 against BDT 78.70-78.76 of the previous working day till the report was filed at 12:14 pm (local time).
“The demand for the US dollar increased suddenly following settlement of import-payment obligations for essential commodities and capital machinery for energy and power sector,” a senior treasury official of a commercial bank told BBN in Dhaka.
He also said such depreciating trend of the Bangladesh Taka (BDT) against the US currency could continue in the coming days for having to meet a growing demand for the greenback.
He also said the BDT also deprecated slightly against the US dollar at customer level on Tuesday on the same ground.
The average exchange rate of the US dollar at customer level rose to BDT 79.2644 on Tuesday from BDT 79.2452 of the previous working day.
However, the inter-bank call money rate remained stable in the range between 2.75 per cent and 4.50 per cent on the day 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 46.43 billion on Tuesday from BDT 43.44 billion of the previous working day, according to the central bank latest statistics, released on Wednesday.