BDT falls further

The local currency depreciated significantly against the US dollar on Monday, mainly due to higher demand for the greenback for settling import-payment obligations.
The Bangladesh Taka (BDT) lost its value by 50 paisa in the inter-bank foreign-exchange (forex) market on the day, according to market operators.
The US currency was quoted at Tk 92.50 each on the day against Tk 92.00 on the previous working day. It was Tk 89.90 on June 02.
Most banks quoted the US currency at maximum Tk 93.00 for the sale of bills for collection, generally known as BC, for settling import payment on Monday, unchanged from the previous level, the market operators noted.
A few banks quoted the US dollar at maximum Tk 93.95 for BC selling on the same day, they added. Meanwhile, the Bangladesh Bank (BB) continued providing its foreign currency support to the scheduled banks in a bigger way for managing the forex market volatility.
It sold $105 million directly to banks on Monday to help them meet the growing demand for the greenback.
On Thursday last, the central bank sold $94 million directly to six banks on the same ground.
The BB has so far injected $6.79 billion from the reserve directly into commercial banks as liquidity support for settling their import payment obligations in the current fiscal year, FY 2021-22.

siddique.islam@gmail.com