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The exchange rate of the Bangladesh Taka (BDT) is going to depreciate largely against the US dollar mainly due to higher demand for the greenback for settling import-payment obligations.
The local currency is set to lose its value by Tk 1.10 in the inter-bank foreign exchange (forex) market, which will come into effect on Monday, a top central banker said to the FE.
The US currency will be quoted maximum at Tk 89.00 each on the day against the existing level of Tk 87.90.
The exchange rate of local currency is set to depreciate similarly against the greenback at the customers' level for settling import payments.
The US dollar will be quoted a maximum of Tk 89.15 each for the sale of bills for collection, generally known as BC, on the day against the existing level of Tk 88.00.
On the other hand, banks may allow quoting dollars at Tk 88.15 on the day against the existing level of Tk 87.00 to remitters for telegraphic transfer (TT) clean of their funds.