Dollar price falls in open market

The US dollar prices against Bangladesh currency fell by Tk 5 in the open market on Thursday after a hefty raise of forex, amid a rush of imports to meet the demand following easing of Covid pandemic.

Bangladesh Bank has, meanwhile, tightened regulations to curb imports of unnecessary and luxury items and added provision of including container and shipping tracking system with the import bills, to protect trade based money laundering in disguise of fake import orders.

Money exchange houses in the areas of Dilkusha commercial area (banks’ zone), Baitul Mukarram, Palton and Gulshan said that they sold one US dollar at Tk 97 to Tk 98 on Thursday.

The exchange houses sold per US dollar at Tk102 two day earlier on Tuesday, despite the higher price there remained a shortage of the greenback in kerb markets.

Anwar Hossain, operating a money exchange for 22 years told UNB that the price of US dollar is not stable yet. He said Bangladesh Bank’s policy is impacting the kerb market to reduce the demand of forex.

However, the US dollar exchange rate in the banks has remained unchanged between Tk 93 to Tk 96 for opening LCs.

Though the central bank fixed the US dollar exchange rate at Tk 87.50 on Monday this week, banks are selling dollars at a higher rate due to the forex supply crisis.

Md. Serajul Islam, Executive Director and spokesman said forex market becomes unstable due to rush of import. Gradually the forex market will be normal and bring a balance on import and export, he said.