Dhaka, Bangladesh (BBN) – US dollar gained against Bangladesh taka (BDT) in the inter-bank foreign exchange market last week due mainly to higher demand of the greenback in the market, treasury officials said.
The exchange rate of the dollar hovered between BDT 68.52 and BDT 68.58 in the inter-bank market against previous week’s single rate of BDT 68.52.
The foreign currency support amounting to over $100 million was provided by the Bangladesh Bank (BB), the country’s central bank, in the last week to selected commercial banks for meeting import obligations and reducing pressure on fund.
The US currency also gained in public deals and it was mainly exchanged at rates varying between BDT 67.47 and BDT 70.80 against previous week’s range of between BDT 67.47 and BDT 70.65, they added.
In the informal market, generally known as kerb market, the US dollar was evidently stronger and it was traded at rates varying between BDT 70.00 and BDT 70.60 in the local informal market against the previous week’s range of BDT 70.00 and BDT 70.30.
The brokers bought dollar mainly at rates between BDT 70.00 and BDT 70.40 and sold it between BDT 70.30 and BDT 70.60, money traders said.
BBN/SI/SS/AD-26October08-11:58 AM (BST)