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Dollar price jumps over Tk100 mark--------

December 31, 2022 00:00:00

US dollar price jumped over Tk 100 mark for the first time in Bangladesh in May, prompting the central bank to begin a probe into the unusual exchange-rate hike.

Rate distortion means banks charge higher price of the US currency bypassing their announced rates particularly for BC (bills for collection) selling and TT (Telegraphic Transfer) clean, they explained.

A brigade of 12 inspection teams of Bangladesh Bank started on-site inspections into alleged 'distortion' to foreign-exchange rate by some banks.

At least 20 banks, including four state-owned commercial banks, have been included in the list for the inspection, according to the officials.

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