Taka appreciates slightly against US dollar
The central bank revised the inter-bank dollar rate to Tk84.88 on Thursday from Tk84.90 on the previous day
A day after Finance Minister AHM Mustafa Kamal had announced that the local currency would not be devalued against US dollar, the Bangladesh Bank on Thursday depreciated the greenbacks by 2 basis points.
The central bank revised the inter-bank dollar rate to Tk84.88 on Thursday, which was Tk84.90 on the previous day.
It had been observed in recent times that the Bangladesh Bank's policy was pro-appreciation of dollar to facilitate exporters and remitters.
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Over the last three years, dollar has appreciated by almost 600 basis points in inter-bank exchange market.
When authorised dealer banks fail to meet the demand of their clients from their own stock they have to buy dollars form the inter-bank market.
The Bangladesh Bank has regularly supported the commercial banks to meet the gap, providing them with liquid dollar.
In this fiscal year, the central bank has already sold $351 million to commercial banks. The banks can add highest Tk2 to the inter-bank exchange rate when selling to clients for international trade.
From the end of November, the Bangladesh Bank quoted the inter-bank dollar rate as Tk84.90. It was the highest ever inter-bank dollar rate.
According to central bank statistics, the last time US dollar faced a price devaluation was on May 20, 2018 when the Bangladesh Bank revised dollar rate at Tk83.65 from Tk83.70.
