Dhaka, Bangladesh (BBN) – The average daily transaction in the inter-bank foreign exchange market fell in last week mainly due to lower demand for the US dollar in the market, treasury officials said.
The transaction volume of USD/BDT came down to US$ 51.62 million in last week, ended on Thursday, from $62.50 million in the previous week, according to market operators.
They also said the inflow of foreign currency increased significantly in the market following higher flow on inward remittances ahead of the Eid-ul-Fitr festival.
They expected that the existing stable trend in forex market may continue in the next week.
Meanwhile, most of the banks kept their published foreign exchange rates unchanged throughout the week.
The USD/BDT selling rates for importers of major foreign and private banks hovered between the range of BDT 77.90-78.50,while US$ buying rates from exporters were between BDT 76.90-77.50.
For non- commercial payments such as tele-graphic transfer (TT) as donations, wage earners remittance, dollar drafts etc, the average TT buying rate hovered between the ranging of BDT 76.90-77.50 while average TT selling rate was at BDT 78.16 on the last working day.
USD/BDT swap market in the week remained active. The daily average volume of swap transaction was around USD 45.00 million, they added.