Taka depreciated further by Tk 1 against US dollar

Bangladesh Bank (BB) on Monday devaluated taka against US dollar, raising the exchange value of the dollar by Tk 1 to Tk 96 per dollar -- a price that is called interbank rate.

No other banks in country, however, can purchase dollar at this price except the central bank. The central bank sold 63 million dollars from its reserves to the banks at the newly set price.

Bangladesh Bank spokesperson Sirajul Islam confirmed the matter of taka depreciation to Prothom Alo.

Earlier on Sunday, the top leaders of the Association of Bankers Bangladesh (ABB) and Bangladesh Foreign Exchange Dollar’s Association (BFEDA) decided that all banks will purchase dollars from expatriates at maximum Tk 108 per dollar while Tk 99 in cashing export revenue and Tk 104.50 in settling the import letter of credit.

The newly set price was effective from Monday. BFEDA Chairman Afzal Karim told the newsmen that all banks will maintain the price.