Dollar price goes up by Tk 10 in a day

Despite taking different initiatives to overcome the dollar crisis, the prices are not being reined in. The price of dollar has hiked by Tk 10.15 in the interbank currency market. 

On Tuesday (September 13), the dollar was traded at Tk 106.15 at interbank. On Monday (September 12), the central bank sold to the banks at the rate of Tk 96 per dollar. Within a day, the value of taka decreased by Tk 10.15.

Meanwhile, in the joint meeting of Association of Bankers Bangladesh (ABB) and Bangladesh Foreign Exchange Authorized Dealers Association (BFEADA) last Sunday (11 September), a dollar rate was set to prevent unhealthy competition and excessive profit among banks. According to the new rate, the maximum rate per dollar in banks for expatriate remittances is Tk 108. In respect of commercial remittances and export bills, the rate was fixed at Tk 99. Besides, a maximum of Tk104.50 per dollar in LC settlement of imports. However, the rates will change every few days, ABB and BFEADA leaders said. The central bank will monitor these rates and regularly exchange data with banks. And after setting a dollar rate for banks, the interbank dollar price increased for the second day in a row.

A review of the dollar price showed that the dollar price remained stable at Tk 84.80 in the interbank currency market from July 2020 to August last year. But since then, the dollar crisis started to pay huge import costs and still continues. At the beginning of August 2021, the interbank rate per dollar remained the same. From August 3 that year, the price of dollar surpassed Tk 85 for the first time on August 22. And after a year, the price of dollar increased two days in a row and stood at Tk 106.15.