Dhaka, Bangladesh (BBN)- The Bangladesh taka (BDT) has been depreciated marginally by 0.19 per cent against the US dollar during the last 12 days following the increased demand of the greenback in the market.
The US dollar was quoted at BDT 68.60- BDT 68.65 in the inter-bank foreign exchange market on Tuesday against BDT 68.52 as on October 16 last, market operators said.
“The local currency has been devalued in line with the market demand,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka.
Market players said that the local currency should depreciate more against the US currency to encourage exporters as well as to help the flow of inward remittances increase.
“The local currency will have to depreciate against the US dollar in line with our competitor countries like India and Vietnam,” a treasure official of a private commercial bank told BBN in the capital, Dhaka.
BBN/SI/SS/AD-28October08-9:38 PM (BST)