Dollar price jumps to Tk 102 at open market

The price of US dollar is increasing day by day in Bangladesh. US dollars are being traded at higher price in the open market than the fixed rate of the central bank.

Taka witnessed the steepest fall in the open market as its value against the US dollar declined by Tk 4 to Tk 102 on Tuesday (May 17), several officials of banks and money exchange confirmed the matter.

Earlier, the US dollar exchange rate for interbank transactions was revised to Tk 87.5, up by Tk 0.80. On the open market, a dollar now costs a record Tk 102.

Al-Amin, an official of Crown Exchange at Banani in the capital said, we have been buying dollars at Tk102 and selling at Tk103.50 since this morning. It is likely to increase further tomorrow.

NCC Bank’s Managing Director Mohammad Mamdudur Rashid said, import duties are being paid in dollars. At the same time, export earnings are not growing as they were supposed to. We have to try to fill the gap between import and export. We are giving emphasize on increasing remittance earnings.