The US dollar weakened slightly in Bangladesh’s currency market on Sunday, the first working day of the week, while the prices of most major foreign currencies increased, according to data released by Bangladesh Bank.
The central bank said the average market rate of the US dollar stood at Tk123.80. The foreign exchange market has remained volatile in recent months amid various factors, including the ongoing crisis in the Middle East.
According to Bangladesh Bank data, the prices of the euro, British pound, Chinese yuan, Australian dollar and Singapore dollar increased. The exchange rates of the Indian rupee and Japanese yen, however, remained unchanged.
Foreign currencies are generally traded at slightly higher rates in the open market than the rates published by the central bank. Fluctuations in foreign exchange rates can directly affect the cost of trade and business in Bangladesh.
-HIS