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BB allows floating exchange rate for US dollar

Staff Correspondent
13 Sep 2022 19:14:35 | Update: 14 Sep 2022 00:00:11
BB allows floating exchange rate for US dollar
— File Photo/Reuters

The inter-bank exchange rate went up extensively as Bangladesh Bank allowed a floating exchange rate finally.

The average inter-bank exchange rate stood at Tk 103.91 per dollar on Tuesday as banks are calculating the inter-bank exchange rate, said a high official of the central bank.

On the day, the highest inter-bank exchange rate was at Tk 106.15 per dollar and the lowest inter-bank exchange rate was at Tk 101.67 per dollar.

Till Monday, the inter-bank exchange rate was at Tk 96 per dollar when the BB managed the inter-bank exchange rate.

The BB official said that the Bangladesh Foreign Exchange Dealers Association (BAFEDA) is now calculating the inter-bank exchange rate and reporting to the central bank daily.

The central bank on Tuesday sold $30 million to banks from its reserve for settling only for government imports. The selling rate was at Tk 96 per US dollar.