Against the U.S. dollar Bangladesh Taka (BDT) has depreciated by 0.13 percent in the last nine days. This is due to a rise in demand for the greenback in the market, treasury officials said.
In A Press conference A senior official of the Bangladesh Bank (BB), the country's central bank, mentioned, “The U.S. currency has gained against the local currency due mainly to higher demand of the greenback in the market,” The official also said they are trying to stable the market and they are closely monitoring the overall foreign exchange market.
The U.S. dollar was traded at BDT 69.22-BDT 69.27 in the inter-bank foreign exchange market on Monday against BDT 69.15 on Jan. 24 this year.
The BDT has been depreciating since Jan. 24 following an increase in demand for the greenback in the inter-bank market to settle payments for import of petroleum products, scrap vessels, edible oil and food grains.
A senior treasury official of a leading private commercial bank told, if the central Bank refrains from intervening in the market, the upwards trends of the U.S. Dollar may continue for few more days. He also mentioned in the first week of February, demand for the US Dollar may decline year after easing pressures on payments for petroleum products, scrap vessels, edible oil and food grains particularly wheat.

Source: ANH
Key words: foreign exchange market,  central bank, US Dolla, trading currencies, currency trader, currency market, currency rates