With the aim to stabilise the foreign exchange market, Bangladesh has recently depreciated Taka by Taka 0.40, re-fixing the local currency’s exchange rate against the US dollar at Taka 87.90, which is the third such depreciation against the greenback this May.
According to media reports, people concerned have, reportedly, observed that the outbreak of the Ukraine-Russia war in February led to disruption in the global supply chain, causing shipment costs to go up and in turn leading to increased demand for the US dollar even as prices of all kinds of commodities in the global market were going up owing to increasing demand all over the world in the wake of improvement in the pandemic situation.
As a result, like in many countries across the world, local currency of Bangladesh also started to lose value against the greenback.
