Pressure on Forex market may rise in December
Dhaka, Bangladesh, Dec. 1 -- The Bangladesh Taka (BDT) has depreciated by BDT 1.0 against the US dollar so far this calendar year in the inter-bank foreign exchange market.
The US dollar was quoted at BDT 84.90 each in the inter-bank forex market on November 27 against BDT 83.90 on January 02.
The demand for the greenback is gradually increasing, mostly driven by higher import payment, particularly for intermediate goods, oil and capital machinery for power plants.
The BDT's erosion was equally blamed on the falling trend in the export income during the first four months of this fiscal.
Bangladesh's export income dropped by nearly 7.0 per cent to $12.72 billion during the July-October period of fiscal 2019-20, from $13.65 billion in t...
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