The local currency taka has officially depreciated against the US dollar after seven months as the central bank recently raised the reference rate for taka-dollar transactions by Tk 2.

Detectives will run drives if US dollars are being hoarded illegally or if anyone tries to forge the greenbacks.

Banks in Bangladesh are already in a tight liquidity situation since they have to buy US dollars at higher rates to settle import bills. 

The exchange rate of the taka stood at Tk 93.45 per dollar on Tuesday in contrast to Tk 92.95 on Monday.

The Bangladesh currency today depreciated further against the US dollar, hitting Tk 92.95 on the interbank platform.

The foreign exchange market has been going through volatility because of the widening demand-supply gap of US dollars amid high