Taka falls further against dollar
Tuesday, 9 February 2010
FE Report
Bangladesh taka (BDT) fell further against the US dollar on Monday following a rise in demand for the greenback in the inter-bank foreign exchange market.
The US dollar was traded between Tk 69.27 and Tk 69.31 in the foreign exchange market on the day against Tk 69.27 of the previous day, treasury officials said.
The BDT has been depreciating since January 24 this year following an increase in demand for the greenback in the inter-bank market to settle payments for import of petroleum products, scrap vessels, edible oil and food grains.
"The exchange rate between BDT and the US dollar has been re-fixed in line with the market demand," a senior official of the Bangladesh Bank (BB) told the FE, adding that the central bank is monitoring the country's foreign exchange market closely to keep it stable.
"The upward trend of US dollar is likely to continue for a few more days if the central bank refrains from intervening in the market," a senior treasury official of a leading private commercial bank told FE.
He also said the demand for the greenback might decline shortly after easing pressures on payments for petroleum products, scrap vessels, edible oil and food grains particularly wheat.
Bangladesh taka (BDT) fell further against the US dollar on Monday following a rise in demand for the greenback in the inter-bank foreign exchange market.
The US dollar was traded between Tk 69.27 and Tk 69.31 in the foreign exchange market on the day against Tk 69.27 of the previous day, treasury officials said.
The BDT has been depreciating since January 24 this year following an increase in demand for the greenback in the inter-bank market to settle payments for import of petroleum products, scrap vessels, edible oil and food grains.
"The exchange rate between BDT and the US dollar has been re-fixed in line with the market demand," a senior official of the Bangladesh Bank (BB) told the FE, adding that the central bank is monitoring the country's foreign exchange market closely to keep it stable.
"The upward trend of US dollar is likely to continue for a few more days if the central bank refrains from intervening in the market," a senior treasury official of a leading private commercial bank told FE.
He also said the demand for the greenback might decline shortly after easing pressures on payments for petroleum products, scrap vessels, edible oil and food grains particularly wheat.