Dollar again hits Tk112 in kerb market
Importers, however, paid Tk109 a dollar on Sunday to settle import bills
The exchange rate of the US Dollar against the taka hit record Tk112 in the country's kerb market for the second time on Sunday.
Most of the traders on Sunday in the kerb market, an open market where people sell and buy cash dollars, sold the greenback at the whopping rate after buying those at the highest price of Tk111.
On 26 July this year, the greenback reached Tk112 in the open market for the first time. Subsequently, the kerb market rate dropped slightly to Tk106 as law enforcers launched raids on money exchanger houses and the central bank intensified monitoring.
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On Thursday last week, the greenback was at Tk108 in the open market. It ticked up to Tk110 on Saturday and jumped to Tk112 the next day.
A number of money exchange houses in the capital told The Business Standard the buyers and sellers are afraid to transact directly due to the ongoing raids. Therefore, many traders are secretly buying and selling dollars in the kerb market.
At least two of the traders claimed to have bought dollars at Tk109 and sold them at Tk110. These traders were interested in buying dollars at this rate, but they said that they do not have dollars to sell.
On Sunday, the banks settled the letter of credit (LC) for imports at a maximum of Tk109. They settled the LC at a record Tk110 on Thursday last week.
