Interbank dollar exchange rate rises to Tk108.75

The interbank exchange rate for dollars rose from Tk108.50 to Tk108.75, which is the highest in the country’s history.

The rate at which one bank sells dollars to another bank is called the interbank exchange rate.

According to central bank data, the American greenback traded at the lowest rate of Tk108.50 and highest rate of Tk108.75 on Monday (22 May).

Earlier on 15 May, the dollar rate rose to Tk108.50 in interbank exchange, which was the highest dollar rate in this market till Monday.

On 7 May, the dollar rate rose to Tk108 in interbank exchange.

Bankers said the interbank dollar rate has increased mainly due to the increase in remittance rates.

On 30 April, Association of Bankers Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) increased the remittance dollar rate by Tk1 to Tk108.

Earlier, the dollar rate of remittance was Tk107 for about six months, although several banks have brought remittances with higher rates in March.

Source: The Business Standard
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Iram Hoque

Mohd. Iramul Hoque (Iram) completed his bachelor’s degree in Industrial Engineering in 2018 from Purdue University.

He joined Deloitte Consulting LLP as a Consulting Analyst based out of New York City having previously worked in similar roles at PricewaterhouseCoopers LLP & Landis+Gyr.

Iram left consulting and returned to Bangladesh to take up the family business. Realizing the opportunity in the capital market in Bangladesh, Iram worked relentlessly to found Columbia Shares & Securities Ltd in 2021.

Md Saiful Hoque

Md. Saiful Hoque received his bachelor’s degree in Civil Engineering from Columbia University in 1986 followed by a master’s degree from Texas A&M University in 1988. Upon completion of his Graduate Degree, he joined Gulf Interstate Engineering Company in Houston, USA serving as a Project Engineer.

He returned to Bangladesh in 1992 to join Columbia Enterprise Ltd., the family business of Shipping and Freight Forwarding services. In addition, he has built flourishing businesses manufacturing Garment’s Accessories and Fast-Moving Consumer Goods.