FE Report
Bangladesh taka (BDT) depreciated marginally by 0.20 per cent against the US dollar in the last seven working days following a rise in demand for the greenback in the market.
"The local currency has depreciated against the US dollar on the basis of market demand," a senior official of the Bangladesh Bank (BB) told the FE Wednesday, adding that the central bank was monitoring the overall foreign exchange market closely to keep it stable.
"The central bank may intervene in the market if necessary," the BB official noted.
The US dollar was traded at Tk 69.17- Tk 69.20 in the interbank foreign exchange market Wednesday against Tk 69.04-Tk 69.05 on the first day of this month, treasury officials said.
The BDT has been depreciating since December 1 last following the increase in demand for the greenback in the interbank market to settle payments for import of petroleum products, fertiliser and food grains.
"The upward trend of US dollar is likely to continue for few more days if the central bank refrains from intervening in the market," a senior treasury official of a commercial bank told the FE.
He also said the flow of inward remittances is witnessing a falling trend after the Eid festival, which has led to a short supply of the greenback in the market.
BB watchful as Taka falls against dollar
FE Team | Published: December 10, 2009 00:00:00 | Updated: February 01, 2018 00:00:00
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