Taka hits new low owing to dollar crisis

Taka fell on Monday to an all-time low of Tk 91.95 against the US dollar due to the growing demand for the greenback amid declining inflow.

The Bangladesh Bank on Sunday increased the dollar price by Tk 1.60 to Tk 91.50 and Tk 0.40 on Monday to Tk 91.95, a rate by which the central bank will sell it to the banks.

So, the interbank rate would be a minimum of Tk 91.95.

Monday’s devaluation of the taka is the ninth this year, aimed at discouraging unnecessary imports amid the global price hike of commodities and increasing demand for the US currency.

Earlier on June 2, the central bank had depreciated the local currency by Tk 0.90 to re-set the exchange rate at Tk 89.90 per US dollar.