The value of the US dollar has risen again against the Bangladeshi Taka. On Wednesday (October 22), the selling price of one dollar reached a maximum of BDT 122.75 in various banks across the country, up from BDT 122.30 last week.
Bank sources said the rise in dollar value is driven by increased pressure from import LCs, higher demand for foreign currency, and market fluctuations.
At Standard Chartered Bank, the selling price of one dollar was BDT 122.75 and the buying price was BDT 121.75. At state-owned Sonali Bank, the selling price was BDT 122.60 and the buying price was BDT 121.60. Dhaka Bank sold the dollar at BDT 122.50 and bought it at BDT 121.15.
This upward trend in the dollar has also affected the interbank market. According to Bangladesh Bank, the highest interbank rate today was BDT 122.25, compared to BDT 122 yesterday.
Data shows that in September, import LCs worth USD 6.3 billion were opened, up from USD 5.38 billion in August.
Meanwhile, Bangladesh Bank recently purchased USD 38 million from six banks at a rate of BDT 121.80 per dollar. Since the start of the current fiscal year, the central bank has bought a total of USD 2.12 billion from banks.
Mohammad Ali, Managing Director of Pubali Bank, said, “The dollar has risen slightly due to import cost pressures, but this is not unusual. The supply of dollars in the market is sufficient.