$1 now equals Tk92.85

Taka is continuously depreciating against the American greenback thanks to the growing import payment, creating burden on importers but boosting export and remittance earning.

The inter-bank exchange rate stood at Tk92.85 per dollar on Thursday, up from Tk92.80 the previous day. This is the 15th depreciation of local currency in this year.

A high official of the central bank confirmed the issue to the Business Post.

However, the central bank allowed free floating of dollar but unofficially it intervened in the forex market by setting the inter-bank exchange rate.

To cool down the forex market, the BB is selling USD every day to banks. On Thursday, the central bank sold $28 million to banks at the rate of Tk92.85 per dollar, which is the official inter-bank exchange rate.

From August to June 16 of this fiscal year the central bank had injected over $7 billion into the banking sector, which was the highest in the country’s history.