Taka falls further, $1 now Tk 91.95
The local currency of Bangladesh fell by Tk 2.05 in the last two days in its value to Tk 91.95 against the US dollar.
On Sunday, the taka depreciated by Tk 1.60 against the American greenback. The central bank weakened its further today, by another Tk 0.45 per USD this time, the 10th depreciation this year.
The currency is facing depreciation pressure as the supply of US dollars has narrowed owing to higher import bills against moderate export and remittance receipts.
As a result, many banks had faced the shortage of US dollars to settle import bills as the central bank fixed the exchange rate for them to buy remittance US dollars from foreign money exchange houses.
The situation prompted the Bangladesh Bank on Thursday to begin allowing the exchange rate to be determined by the natural course of demand and supply of the American greenback.