The Bangladesh Bank (BB) yesterday asked banks to keep a maximum of Tk 1 as a spread between the buying and selling rates of the US dollar.

After seven months of implementing a crawling peg exchange rate system in spot purchases and sales of US dollars, the Bangladesh Bank (BB) is now considering increasing the mid-rate to Tk 119 from Tk 117 per greenback, according to central bank officials.

In its effort to arrest the fall in forex reserves and bring unrealised export proceeds into the country, the Bangladesh Bank today allowed bankers to offer the existing US dollar exchange rate to exporters.

It's because of the inflation-led pressures on Bangladesh’s taka and the central bank's undervaluation of the US dollar.

Association of Bankers, Bangladesh (ABB) decided to sell each US dollar at Tk 110.50 to importers and buy it at Tk 110 from exporters and remitters

Bankers today decided to appreciate the taka against the US dollar by Tk 0.50 from tomorrow as they observed an improvement in the overall current account balance, which records the nation's transactions with the rest of the world

Banks will buy dollar at Tk 110, sell at Tk 110.5 from Nov 23

The Policy Research Institute of Bangladesh says in a press briefing

Earlier this month, the edible oil refiners’ association wrote to the Bangladesh Trade and Tariff Commission seeking to increase prices of cooking oil.

Commercial banks raised the exchange rate as part of efforts to establish a single exchange rate

The exchange rate of dollar needs to be freed to make the garment business profitable at this crisis time, said a top leader of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today.

The taka yesterday depreciated against the US dollar, hitting Tk 96 on the interbank platform as the central bank moved to allow the market forces to determine the exchange rate of the national currency.

The exchange rate of the US dollar jumped to Tk 119 in the kerb market in Bangladesh today.

The safe-haven dollar edged higher on Tuesday, erasing earlier losses as risk appetite dwindled ahead of key inflation figures that could offer clues on how aggressive the Federal Reserve will be in its expected interest rate hike in September.

The local currency today depreciated further against the US dollar, hitting Tk 92.50 for each greenback in the interbank platform.

The local currency yesterday depreciated further against the US dollar, hitting Tk 92 for each greenback in the interbank platform.

The local currency today depreciated further against the US dollar, hitting Tk 92 against each green back in the interbank platform.

The local currency of Bangladesh fell by Tk 2.05 in the last two days in its value to Tk 91.95 against the US dollar.

Exchange rate management is an important task for the central bank. In Bangladesh, though the central bank follows a floating exchange rate, it manages the foreign exchange market through intervention.

Volatility in the foreign exchange market intensified today amid a scarcity of the American greenback, forcing travellers to spend as high as Tk 102 to buy a US dollar from banks, the highest in Bangladesh.