Interbank USD exchange rate falls further

The interbank exchange rate of US dollars fluctuated constantly after the Bangladesh Bank allowed the floating exchange rate of the American greenback.

On Sunday, the US dollar depreciated Tk 1.25 to Tk 105.50 against the Taka. The previous day’s figure was Tk 106.75 , according to the central bank.

In the past week, the interbank exchange rate of the dollar hit a record Tk 106.90.

Soon after allowing the floating foreign exchange rate on September 13, the interbank exchange rate of the US dollar rose to Tk 106.15 from Tk 96.

Despite the measure, the regulator is still selling US dollars to the banks from its reserves.

From July to September 19, BB sold more than $3 billion to the banks.

Officials said the central bank is currently supporting the forex market with the US dollar only for covering the government import payments.

The BB sold $40 million to the banks on Monday.

The sale of the US dollar led the reserves to shrink to $37.10 billion on Thursday, compared to $48.11 billion in August last year.