Staff Reporter :
The dollar price has been increasing leaps and bounce as the exchange rate reached Tk115 in the kerb market on Monday, which is the highest in history.
Meanwhile, the Bangladesh Bank devalued the local currency (Taka) further by Tk 0.30 against the US dollar to Tk95 on Monday and selling dollars from reserves to state-owned banks at this rate.
However, the volatile situation has been created because of the Russia-Ukraine war that engineered massive geopolitical risk and volatility in markets. On top of that, historic inflation has prompted the US Federal Reserve to aggressively hike the rates.
Earlier, on July 26, the price of the dollar had reached a record of Tk112 in the kerb markets.
The price of dollar is increasing in the kerb market due to a shortage of the greenback. According to multiple money exchange booths in Baitul Mokarram and Motijheel areas, the price of dollar was Tk111-111.5 in the kerb market on Sunday.
Taka was devalued further by Tk0.30 against the US dollar to Tk95, Bangladesh Bank spokesperson and Executive Director Md Serajul Islam confirmed the development to this correspondent on Monday.
However, the dollar rate was Tk94.70 which was fixed on 25 July till Sunday.
Meanwhile, the central bank sold $139 million to commercial banks on Monday.
