Taka devalued again
02 June 2022, 10:05 pm | Updated: 30 November 2024, 01:34 pm
Bangladesh Bank (BB) has devalued the local currency again by Tk0.90 to re-set the exchange rate at Tk 89.90 per US dollar.
Thursday’s devaluation of taka – the eighth this year - sought to discourage unnecessary imports amid global price hike of commodities.
Md Serajul Islam, executive director and spokesperson of BB told though the new exchange rate was not formally conveyed to banks, the BB sold $135 million to banks at the rate of Tk89.90.
The BB has resorted to frequent depreciation of Bangladesh currency to stabilize the restive foreign exchange trade.
Earlier the BB depreciated local currency by Tk0.25 to Tk0.40. But the central bank has recently increased the percentage of the devaluation.
