Dollar price rose just a day after the introduction of the crawling peg

The exchange rate volatility and its strain on the foreign currency reserves would not disappear anytime soon after Bangladesh Bank Governor Abdur Rouf Talukder yesterday said a floating US dollar rate would not be materalised before the upcoming national election.

The IMF staff mission is willing to set a lower target for foreign currency reserves for this December and June next year provided the Bangladesh Bank adopts the crawling peg method to manage the exchange rate.

Banks in Bangladesh have decided to enforce a uniform exchange rate of the US dollar from next week with a view to moving away from multiple prices of the American greenback blamed for the ongoing foreign currency instability.

The leaders of BGMEA, BKMEA, BTMA say at a roundtable

They will get Tk 107.5 for a dollar from July 2

The multilateral lender says in its latest regional economic update

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