BB not to fix exchange rate of dollars

Bangladesh Bank has decided not to fix the exchange rate of the US dollars, allowing the market to set the price based on demand and supply.

The BB communicated the decision to banks verbally. The move has already come into effect.

Md Serajul Islam, spokesperson and an executive director of the Bangladesh Bank, said that the decision was taken as inflow of inward remittances had declined sharply in the last couple of days.

The central bank will also declare the interbank rate, the benchmark rate of the taka against the US dollar.

The interbank rate today stands at Tk 89 per dollar, which was Tk 85.80 per dollar on December 30 and Tk 84.80 on June 2 last year.