Metropolis Report-
The Bangladesh Bank has begun selling the US dollar to banks for Tk 103, which has caused the taka to lose more ground to the greenback.
The move aims to progressively modify currency rates to reflect market supply and demand. The most recent decline occurred one month after the central bank sold dollars to banks for Tk 102 each.
In response to the ongoing foreign exchange crisis, which has persisted for a year, the central bank is selling dollars to banks to assist them in meeting their foreign currency needs, notably for import payments.
The dollar reached Tk 107.40 yesterday in the interbank market, compared to Tk 86 one year ago.
