The Taka fell further against the dollar. The Central Bank has set the interbank rate at 109 taka 50 paisa by increasing the rate of one dollar by 50 paisa.
This information was received from the Central Bank sources on Wednesday (August 2). About $69 million was sold at the new rate on Tuesday (August 1), they said.
With this, the devaluation of the Taka took place for the third time in the fiscal year 2023-24. In July this year, the dollar exchange rate was Tk. 109.
In total, the country's Taka has fallen by Taka 15. 50 paisa in the last 1 year. A year ago the dollar rate was Taka 94. 45 paisa. Since then, the Taka has depreciated by about 16 percent.
A senior official of the Central Bank said that the interbank dollar price has increased by 50 paisa. As a result, Bangladesh Bank has also increased the selling price of dollars from foreign currency reserves.
Last Monday, Bangladesh Foreign Exchange Dealers Association (BAFEDA) and Association of Bankers, Bangladesh (ABB) coordinated the exchange rate of the dollar.
According to their announcement, exporters are now getting Taka 108. 50 paisa per dollar. Taka 109 is being given in remittance. And import transaction is Taka 109 taka 50 paisa.
BAFEDA Chairman and Managing Director and CEO of Sonali Bank Afzal Karim said that the Central Bank is selling dollars according to their declared rate.
According to Bangladesh Bank, 1.15 billion dollars have been sold from reserves in July of the current financial year. But in the financial year 2022-23 it was 13.58 billion dollars.