Sugar price may reduce if US dollar rates fall, he says

Association of Bankers, Bangladesh (ABB) decided to sell each US dollar at Tk 110.50 to importers and buy it at Tk 110 from exporters and remitters

Most banks collected remittances at Tk 122-123 a dollar today and sold at Tk 116-118 to the importers

Bankers today decided to appreciate the taka against the US dollar by Tk 0.50 from tomorrow as they observed an improvement in the overall current account balance, which records the nation's transactions with the rest of the world

Banks will buy dollar at Tk 110, sell at Tk 110.5 from Nov 23

The central bank sits with top 10 foreign exchange houses

Exporters will get Tk 111 for a dollar, up from Tk 110.5

Bangladesh Bank has sold US dollar at Tk 101 each to banks for the first time, giving indication that it is likely to devalue the local currency to reflect the market reality.

The Bangladesh Bank today said no money changer in the country will be allowed to keep over Tk 50 lakh in their vault a day.

The Bangladeshi taka has depreciated further against the US dollar, hitting Tk 95 on the interbank platform today.

Bangladesh Bank has suspended licences of five foreign exchange houses and served show-cause notices on 42 for their alleged involvement in the manipulation of US dollar prices in the kerb market.

Ten inspection teams of Bangladesh Bank today went for surprise visits to different money changers’ shops in Dhaka city to investigate whether they are hoarding US dollar to intentionally hike the rate of the greenback against the taka.

The exchange rate of the US dollar against the taka today hit a record of Tk 112 in the country’s kerb market.