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The US dollar posted slight gain against the Bangladesh taka last week due to import-related demand for the greenback. The dollar rose to week's high at 63.85 against previous week's peak at Tk 63.79 in the interbank foreign exchange market. It also gained in the informal market, fund managers said.
The nationalised banks reduced the selling rate of the dollar in the interbank market keeping the rate between Tk 63.15 and Tk 63.18 against that of previous week's Tk 63.20. The private sector banks were the major buyers.
The interbank rate of the dollar ranged between Tk 63.15 and Tk 63.85 against that of previous week's range between Tk 63.20 and Tk 63.79, they said.
The week started with a high demand for the greenback due to rise in the number of letters of credit (LCs) against imports of food, oil and machinery for power and telecom sectors, they said.
The inflow of inward remittance, as a major source of supply of the dollar, was unable to meet the growing demand. The pressure on the greenback is expected to continue unless the supply position improves, fund managers said.
The dollar was stronger and it was traded at rates between Tk 59.90 and Tk 61.20 against previous week's range between Tk 59.80 and Tk 60.40 in the informal market. The brokers purchased the dollar mainly at rates between Tk 59.90 and Tk 61.00 and sold it between Tk 60.40 and Tk 61.20.
The dollar in public deals was steady and was traded between Tk 59.70 and Tk 62.25.
In the regional market, most of the currencies remained steady against the dollar. The exchange rate of the Indian rupee against the taka ranged between Tk 1.27 and Tk 1.32. The exchange rate of the dollar against the Indian rupee varied between Rs 43.50 and Rs 43.78. The Pakistani rupee ranged between Rs 59.30 and Rs 59.44.
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