Aka Dollar News Today

Bangladesh Bank yesterday depreciated the taka further by selling the local currency to banks at Tk 102 for a dollar.

Businesses in Bangladesh went through a tough time in recent months due to a dearer US dollar that pushed up their costs of raw materials and a rocketing fuel bill that contributed to the surge in operating expenses. 

Foreign Minister AK Abdul Momen today told parliament that the increased purchase price of oil and LNG is putting a negative impact on foreign exchange reserves.

Dollar exchange rate: The local currency yesterday depreciated further against the US dollar, hitting Tk 92 for each greenback in the interbank platform. The exchange rate of the taka stood at Tk 91.5 per dollar on Monday after facing a depreciation of Tk 0.45.

Bangladesh Bank has asked banks to convert major export earnings of businesses into taka immediately as it looks to increase the supply of US dollars in the economy.

The Bangladesh Bank today depreciated taka by 1.25 per cent to Tk 89 per US dollar hours after banks suggested depreciating the local currency by Tk 2.

Over the past year, the value of taka depreciated 3.18% against the US dollar. It is 8.56 percent in India, 30.7 percent in Pakistan and 79.82 percent in Sri Lanka. Depreciation of Maldives currency is a bit less than Bangladesh.

Forex market volatile: Volatility in the country's foreign exchange market yesterday intensified further amid scarcity of the greenbacks, forcing travellers to buy a US dollar at up to Tk 102, the highest in Bangladesh, in open markets.

Volatility in the foreign exchange market intensified today amid a scarcity of the American greenback, forcing travellers to spend as high as Tk 102 to buy a US dollar from banks, the highest in Bangladesh.