The supply of dollars in the market has increased due to an increase in expatriate income as well as a decrease in import expenditure. As a result, the price of the dollar in the open market is gradually decreasing. On Thursday (19 August), the dollar was sold from Tk 110 to Tk 111. That means the price of the dollar has decreased by Tk 10 in the open market within a week.
Last week, the cash dollar rose to Tk 120 in the open market. The benefits of Bangladesh Bank’s multifaceted initiatives are being met in the dollar market. It is assumed that the demand for dollars will decrease further from next week. This will further reduce the price of the dollar in the open market.
Meanwhile, the regulatory agency Bangladesh Bank has taken several steps to overcome the dollar crisis in the country. The rate of profit on the sale of dollars by banks and money exchanges has also been fixed.
In this case, the gap between banks and money changers will be a maximum of Tk 1.50. Banks can buy dollars and sell them at a profit of Tk 1.
Before this, the dollar holding capacity of banks and exporters had been reduced to increase the supply of dollars according to the 10 May directive. Instruction was given for monetisation of dollars within one day of the arrival of export earnings. Not only that, restrictions have been placed on monetising the export earnings of one bank in another bank to control the dollar rate.
