Dollar price jumps to Tk 102 at kerb market

Reuters file photo

Taka witnessed the steepest fall in the open market as its value against the US dollar declined by Tk 4 to Tk 102 on Tuesday.

Yet, the market is suffering from a shortage in the supply of greenback.

Each dollar changed hands for Tk 98 at the open market on Monday. But the scenario took a turn for the worse and the selling price rose to Tk 102 within a few hours.

Money exchanges in Paltan and Gulshan areas were seen selling each dollar at Tk 101 to Tk 102 on Tuesday.

Md Kashem, a trader at Motijheel open market, said the market is suffering from an acute shortage of dollars. It is now being sold at Tk 101.5.

In the face of huge demand and apparent economic crisis, Bangladesh Bank depreciated taka against the US dollar to Tk 87.50 on Monday.

However, the price is being maintained only in inter-bank exchanges. Even, the banks are charging the importers higher than the fixed price.