Dhaka, Bangladesh (BBN) – The exchange rate of US dollar has crossed 80-mark against the Bangladesh Taka (BDT) at customer level mainly due to higher demand for the greenback to settle import payment obligations.
The US dollar was quoted at more than BDT 80 by at least three commercial banks on Wednesday, according to treasury official of banks.
The local currency deprecated nearly five paisa against the US dollar at customer level on Wednesday due to higher demand for the greenback in the market.
The average exchange rate of the US dollar at customer level rose to BDT 79.7819 on Wednesday from BDT 79.7321 of the previous working day. It was BDT 79.7102 on Monday.
“More banks are set to offer the US dollar rate at more than BDT 80 to their customers on Thursday,” a senior treasury official hinted.
He also said the deprecating tread of BDT against the US dollar continue for customers who are settling their import payment obligations may continue in the coming days.
On the other hand, the BDT deprecated by two paisa further against the US dollar in early hour transactions on Thursday in inter-bank foreign exchange (forex) market.
The US dollar was quoted at maximum BDT 78.84 against BDT 78.80-BDT 78.82 of the previous working day till the report was filed at 11:41 pm (local time).
“We’re quoted US$ at maximum BDT 78.84 in the inter-bank forex market,” another treasury official said without elaborating.
However, the inter-bank call money rate remained stable in the range between 2.70 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 came down to BDT 76.65 billion on Wednesday from BDT 48.72 billion of the previous working day, according to the central bank latest statistics, released on Thursday.
BBN/SSR/AD