Bangladesh Bank devalued taka against USD again by Tk0.90

PBC News:  Bangladesh Bank (BB) has depreciated the local currency again by Tk0.90 to re-set the exchange rate at Tk 89.90 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, said 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 BB has resorted to frequent depreciation of Bangladesh currency to stabilize 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.