Bangladesh Bank caps purchase rate of remitted-dollar at Tk 123

The Bangladesh Bank (BB) has instructed other banks to purchase remittance dollars at a maximum rate of Tk 123 per dollar.

The instruction came at a meeting with 13 commercial banks held at the BB headquarters in Dhaka on Tuesday.

"We've been instructed to buy remittance dollars at a maximum rate of Tk 123," the deputy managing director of a leading private commercial bank (PCB) told reporters on query.
Following the BB instruction the rate of remittance dollars may fall further in the near future, other officials of PCB officials said.

The BB's latest move came against the backdrop of volatility in the country's foreign exchange market in recent days.