The exchange rate of cash dollar against taka on the open market, known as kerb market, remained mostly unchanged on Thursday as the regulatory drive on money changers continues.
Market operators say cash dollar was traded ranging between Tk 108 and Tk 108.50 on the day on the kerb market following the central bank's spot monitoring.
The Bangladesh Bank (BB) made a drive at different moneychanger houses in Dhaka on Wednesday, just a day after the cash dollar price hit an all-time high of Tk 112 on the kerb market.
Ten probe teams have already found some irregularities relating to the rules and regulations governing foreign-exchange transactions, according to officials.
The central bank is now working to suspend the licence of a moneychanger, which allegedly violated the existing foreign-exchange rules and regulations.
"The final decision is likely to be made in this connection on Sunday," a senior BB official tells the FE without elaboration.
When contacted, BB spokesperson Md Serajul Islam says the BB will immediately act against the moneychangers that have flouted the rules and regulations.
The BB teams continued their drive on Thursday, the day before the weekend, in the regulator's bid to tame the wayward market.
They found at least eight suspected money-changing houses closed, added the officials.
The regulator will take action against the entities after examining their authenticity.
The BB is empowered to suspend the licence of a moneychanger anytime, without assigning any reason, in case of violation of any rules and regulations governing foreign-exchange transactions.
It earlier amended the order for moneychangers aiming to ensure enforcement of such rules properly.
"We've sold the cash dollar at Tk 108-108.50 on Thursday," Money Changers' Association of Bangladesh president AKM Ismail Haq tells the FE.
Dollar was traded at Tk 108 on Wednesday. "The price of cash American dollar may fall shortly," he hints.
Mr Haq further says that the leaders of the association are now working with the BB's probe teams.
"We've already urged the central bank to stop the activities of illegal moneychangers for the national interest," he says in reply to a query.
Currently, 238 moneychangers are operating countrywide.
On the other hand, the BB continues to provide its foreign-currency support to scheduled banks for managing the forex-market volatility.
It sold $50.40 million more directly to different banks at market rate on Thursday to help them meet the growing demand for the greenback.
On Wednesday, the central bank sold $90 million to the banks on the same ground.
US dollar was quoted at Tk 94.70 each on the inter-bank market on the day, unchanged from the previous level, according to the operators.
Dollar was quoted at a maximum of Tk 94.75 for the sale of bills for collection, generally known as BC, on the day, unchanged from the previous working day.
Some banks, however, traded the greenback at rates ranging between Tk 94.75 and Tk 106 to their customers for settling import-payment obligations, ignoring their announced rates.
The BB has so far injected $1.13 billion from the reserves directly into commercial banks as liquidity support for import payments in the current fiscal year (FY), 2022-23.
In FY22, the central bank sold $7.62 billion from the reserves to the banks for the same purpose.
Bangladesh's forex reserves came down to $39.47 billion on Thursday from Wednesday's $39.49 billion following higher sales of dollar to feed the market.
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