Dhaka, June 19 -- The chance of any form of volatility in the exchange rate under the persisting free-floating regime is very thin because of the lower demand for foreign exchange, Country Manager of Mastercard Syed Mohammad Kamal said.

In an exclusive interview with The Financial Express (FE) recently, he expressed his thanks to Bangladesh Bank for allowing the exchange rate to be determined by the market. The exchange rate remains stable for the last several weeks following the central bank's decision to let the market determine the USD-Tk rate, he said.

"I believe the timing of introducing the market-based exchange rate is appropriate, as the supply of forex is much higher than the demand due to Eid-ul-Adha," he said.

Mastercard own...