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Bangladesh Bank (BB) has fixed the exchange rate of US dollar at Tk92.50 by devaluing the local currency by Tk0.50.
The central bank on Monday sold $10.5 crore to banks at the rate of Tk 92.50.
As a result, taka has been depreciated by Tk6 in the last two months in a bid to stabilize the volatile forex market amid a huge rush of import demand.
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This is the Bangladesh Bank rate. The commercial banks are charging Tk 95 per dollar for opening LCs while banks are paying Tk93 for remitters per US dollar.
Md Serajul Islam, executive director and spokesperson of BB, told UNB that the central bank is not fixing the exchange rate rather the Bangladesh Bank accepting an exchange rate which was fixed by Association of Bankers Bangladesh (ABB).