BB devalued taka against dollar again by Tk0.90
The central bank has resorted to frequent depreciation of Bangladesh currency to stabilise the restive foreign exchange trade
Bangladesh Bank has depreciated the local currency again by Tk0.90 to re-set the exchange rate at Tk89.90 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 UNB that 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 central bank has resorted to frequent depreciation of Bangladesh currency to stabilise 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.
