Dhaka, Bangladesh (BBN) - The exchange of US dollar crossed BDT 81.00 in the kerb market on Wednesday as demand for the greenback increased significantly ahead of the Eid-ul-Azha and Durga Puja festivals, traders said.
The upcoming holy Hajj has also contributed to push up the exchange rate of the US dollar against the Bangladesh Taka (BDT) at open market in the capital Dhaka.
The rate of US currency increased against the BDT significantly as demand for the greenback increased significantly to meet higher requirement of a section of traders, who normally bring luxurious items from different countries in bags, are now active in purchasing various luxurious items from abroad to ensure their adequate supply in the local market ahead of the two religious festivals, they explained.
The US dollar was sold in the kerb market in the capital at prices between BDT 81.20 and BDT 81.40 on the day, while the buying rates were BDT 81.00 and BDT 81.20.
The US currency was sold at Tk 78.50 more than a month ago, a senior currency trader told BBN in Dhaka.
The greenback was sold in the kerb market on Wednesday at a rate, which was higher by BDT 3.0 than the rate offered by the state-owned banks.
In the formal market, most of the state-owned were selling the greenback at BDT 78.40 and buying at BDT 77.40 on the day, a treasury official of a leading private commercial bank (PCB) said.
The private banker said most PCBs and foreign commercial banks offer higher rates for the US dollar than that of the state-owned banks.
BBN/SSR/AD