Bangladesh’s reserves stood at US $ 30.92 billion as of 2nd May 2023, 29.7 per cent down year-on-year even as the Taka lost in value further against the US dollar after the central bank of the country, Bangladesh Bank decided to sell the US dollar at Taka 104.5.
Reports further added in line with a recommendation, the central bank raised the regulatory exchange rate by Taka 1.50 to Taka 104.50 even as economists reportedly underlined costlier trading currency may mean costlier imports and pricier consumer goods.
Reports further underlined the move followed just a couple of days after Association of Bankers, Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) increased the exchange rate on remittance and export proceeds by Taka 108 and by Taka 1.0 to Taka 106 respectively.
