The Bangladeshi taka today depreciated against the US dollar, hitting Tk 96 on the interbank platform after the Bangladesh Bank had decided last week to allow the market forces to set the exchange rate of the local currency.

The taka yesterday lost 0.91 per cent in value against US dollars, the sharpest single-day fall in the past one decade, amid the falling supply of the American greenback against surging demand to settle import bills.