Dollar price surges in kerb market
Staff Correspondent
The US dollar exchange rate surged by Tk7 on Thursday to Tk125, just a day after the central hiked the rate and launched a crawling mid-rate peg to preempt rampant dollar cost rise.
Mentionable, the Ukraine war and other factors have pushed dollar prices up by nearly 36% since early 2022.
Until Wednesday, despite the Bangladesh Bank maintaining Tk110 per a single US dollar, the cost for purchasing the greenback were rising in all kinds of foreign exchange transactions.
The prompted the central bank to fix the rate midway at Tk117, and allow fluctuations around this point. The move has motivated money exchanges and even banks to raise the dollar purchasing costs.
On Thursday, money exchanges at Motijheel pushed prices higher by Tk7 to Tk125 while some banks were also charging Tk3-4 more for opening letters of credit (LCs) compared with the rate on the previous day.
