Dollar price sees slight decline Wednesday
Bangladesh Bank has finally strengthened the taka after depreciating against the dollar in several phases since January this year as it decreased the exchange rate.
It raised the value of taka by 50 paisa against the dollar on Wednesday (8 June).
As a result, the dollar traded at the rate of Tk91.50 in interbank transactions.
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Bangladesh Bank spokesman and executive director Md Sirajul Islam confirmed the fall in the value of the dollar and said the central bank sold dollars to other banks at Tk91.50.
In addition to lowering the dollar rate, the central bank has continued to sell dollars to banks. Another $129 million was sold to other banks at the new rate on Wednesday.
It also sold dollars worth $129 million last Tuesday. The central bank has sold more than $6 billion since the beginning of the current fiscal year.
At the end of the day on Wednesday, the country's reserves were 41.75 billion.
In early January, the central bank raised the dollar's exchange rate by 20 paisa to Tk86. Since then, the taka has only weakened against the dollar. Following this, on 23 March, dollar traded for Tk86.20, on 27 April Tk86.45, on 9 May Tk86.70, on 16 May Tk87.50, on 23 May Tk87.90 and on 30 May taka dropped down to Tk89 against the dollar.
According to the experts, the rise and fall of the dollar will bring the price to a stable level.
