USD price rises by Tk2 in kerb market

The US dollar rate rose by more than Tk2 on Sunday in the kerb market due to mainly the high demand for the American greenback.

On Sunday, money changers in the capital were selling Tk104.20 to Tk104.60 per US dollar, up from Tk102 a day ago.

Generally, travelers buy US dollars from the kerb market or open market.

Mostofa Hasan, an official of Sugandha Money Exchange in Motijheel told the Business Post that they were selling USD at Tk104.20 to Tk104.60 per dollar on Sunday and buying it at Tk103.50 to Tk104 per dollar.

He said demand for USD grew further after the Eid-ul Azha as an increasing number of people were traveling abroad.

The USD rate crossed Tk100 per dollar amid Eid holidays then it went up further to Tk102 and the rate of American greenback rose to Tk104.60 on Sunday. On Sunday, the interbank exchange rate stood at Tk94.44 per dollar but importers were spending over Tk100 per dollar to pay their import bills.

To meet the growing demand for US dollar, Bangladesh Bank sold record $7.62 billion to banks in the 2021-22 fiscal year. The central bank also injected $808 million into the money market over the last few days of this fiscal year, as per BB official. The forex reserve of Bangladesh fell to $39.67 billion on Wednesday from $46.15 billion in December due to growing import payment.