Dealers set dollar price at Tk 76
Bangladesh Foreign Exchange Dealers Association (BAFEDA) yesterday set the US dollar exchange rate at a maximum of Tk 76 at customer level to avoid volatility in the market.
The rate will be valid for 15 days.
“A technical committee will give a report in seven days for further actions,” SM Aminur Rahman, chairman of BAFEDA and managing director of Janata Bank, told reporters after the meeting at BAFEDA office.
According to the meeting decision, no bank will be allowed to offer more for the remittances than the BC (bills for collections) selling rate of dollar or Tk 76.
Recently, the price of the dollar has been on the rise, riding on the growing demand to meet import bills, particularly for power equipment and fuel oils. Demand for the greenback by Hajj pilgrims has further aggravated the
situation.
A dollar was sold as high as at Tk 76.40 at customer level on Sunday. The rate was nearly two percent more than that of a month ago.
According to a senior Bangladesh Bank official, last year's import bills for petroleum were $3.6 billion, which is estimated to be $6.8 billion this year.
The dollar was selling at Tk 79 yesterday at different exchange houses and in the kerb market.
The inter-bank rate also rose to Tk 75.30, up from Tk 74 just a month ago. The price of the US dollar is more than Tk 2 in the informal (kerb) market than the formal market.
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