USD 1 now Tk 89

The Bangladesh Bank has depreciated taka by 1.25 per cent to Tk 89 per US dollar.

The banking regulator took the decision assessing the rates submitted by the ABB and BAFEDA.

Earlier, banks suggested depreciating the local currency by Tk 2. With this BB has so far depreciated the taka seven times this year.

The central bank has also fixed the BC (bills for collection) selling rate—at which banks sell US dollars to importers—at Tk 89.15 a US dollar in contrast to the existing Tk 88.

Earlier this day, the Association of Bankers, Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers‍‍` Association (BAFEDA) proposed the central bank fixing the interbank exchange rate at Tk 89.8 per dollar.

As per the recommendations of the two organisations, the rate for importers should be fixed at Tk 89.95 per USD.