Dollar price hits Tk 110 in open market

The price of Taka has devalued again in the country’s open market, jumping the rate of US dollar to Tk 110.

On Tuesday (July 26), the price of the dollar surpassed Tk 110 which Tk 107 on Monday (July 25). However, the central bank sold dollars to the banks at the rate of Tk 94.70 on Monday.

Officials of money exchange companies in the capital’s Matijheel, Dilkusha and Paltan areas of Dhaka told this.

It was learned that supply shortage of dollars, money exchange cannot meet demand of buyers. Due to the crisis, some are advising buyers to buy from the bank at a relatively low price. Meanwhile, on Tuesday (July 26), the dollar is being sold at the rate of Tk 102 in banks.

Masum Ahmed of Ornet Money Exchange in Motijheel said, “Yesterday we started from Tk 105 and at the last sold per dollar at Tk 107. Although it is slightly lower this morning, it is being sold from Tk 110 to 111.50 taka in the afternoon. He said that the price is increasing due to supply shortage of dollars.

He also said if any buyer comes to us, we advise them to take dollars from the bank instead of buying from the open market. Because we are not able to pay dollars to the buyer as their demand.