Interbank Dollar rate remains stable at Tk 122.75

US Dollar currency notes.

The exchange rate of the US dollar against the Bangladeshi Taka has remained stable in the interbank foreign exchange market, according to the latest data from Bangladesh Bank.

As of April 27, the exchange rate was fixed at Tk 122.75 per dollar. Amid the pressure on foreign exchange and IMF congratulations on the market based exchange rate, the domestic currency Taka is stable so far after the national election in February.

The central bank stated that the rate is determined based on market demand and supply within the interbank sector. During the day’s trading, both the bid (buy) and ask (sell) rates stood at Tk 122.75. The Weighted Average Rate (WAR) also maintained the same level, signaling a period of relative stability in the market.

NCC Bank recommends 21% dividend

Bangladesh Bank applies this rate for foreign currency transactions with the government and international organizations.

Cross Rates with Other Major Currencies: While the dollar remained steady, slight fluctuations were observed in the cross rates of other major currencies:

Euro: Trading between Tk 143.86 (bid) and Tk 143.91 (ask).

British Pound: Ranging from Tk 166.09 to Tk 166.13.

Australian Dollar: Exchanged between Tk 87.74 and Tk 87.80.

Canadian Dollar: Traded at Tk 89.80–89.81.

Singapore Dollar: Positioned between Tk 96.13 and Tk 96.21.

Japanese Yen: Priced at Tk 0.77 per yen.

In terms of regional currencies, the Bangladeshi Taka stood at approximately Tk 1.30 against the Indian Rupee and Tk 2.59 against the Sri Lankan Rupee.

Market Outlook:

Market analysts suggest that future movements in the exchange rate will depend heavily on the supply of foreign currency, remittance inflows, and import expenditure. However, for the time being, the interbank market is showing no signs of major volatility. - UNB