disclosure 2023-11-12 20:02:39
Dollar crisis has been going on in the country for almost two years. At present the price of this foreign currency is at its peak. In the open market, the retail dollar price stood at 127 rupees. At the beginning of this year, which was 110 taka. That is, this year the value of the rupee has decreased by 17 rupees.
Bank officials say that the dollar crisis has been going on for a long time. In such a situation, many banks of the country are not able to open LC on time. That is why many banks are buying remittances at high prices. This has also affected the open market dollar.
It is known that at present it costs 127 rupees to buy every dollar in the open market. And at the beginning of the year which was 110 taka. According to that, 17 rupees decreased against every dollar in the current year.
Besides fixing the dollar rate to control high inflation, Bangladesh Bank has been selling a lot of dollars from the reserve. In the current fiscal year, it has already sold about 4.5 billion dollars. Last fiscal year, sales were 13.58 billion dollars. The previous fiscal year was 7.62 billion dollars. The price of the dollar could not be kept under control.
However, at this time, Bangladesh Bank has taken various initiatives to control the prices. Currently, Bangladesh Foreign Exchange Dealers Association (BAFEDA) and Association of Bankers Bangladesh (ABB) are fixing the dollar price on the advice of Bangladesh Bank. However, many banks and exchange houses are not buying and selling dollars at fixed prices. Therefore, ABB and BAFEDA have recently sought the assistance of Bangladesh Bank in controlling the dollar market.
ABB Chairman Salim RF Hossain said, we are going through a difficult situation due to the foreign exchange crisis. We all need to work together to solve this problem. According to our latest instructions, any bank can buy remittance up to 116 rupees. But can’t sell for more than 111 rupees.
Meanwhile, amid this crisis, banks buy dollars from foreign exchange houses at a rate of more than 122 rupees. After this became known, the price of cash dollar is increasing rapidly in the open market.