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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