Dhaka, Oct. 23 -- After weeks of regulatory-intervention-driven stability, Bangladesh's foreign-exchange market suddenly starts heating up with exchange rate recording over 50-paisa rise in a day, officials and bankers said.

They said the taka-greenback exchange rates had risen on the market for the last couple of days but the major hike was observed Wednesday when the rate crossed over Tk 122.50 a dollar, according to the market players.

The abrupt rise has also largely impacted the reference rate of the Bangladesh Bank (BB) as it shot up to Tk 122.13 a dollar at 5.00pm Wednesday from Tk 122.02 recorded at the end of business hours a day before.

Although the banking regulator finds no valid reason behind such upswing, the market playe...