Taka gets firmer against the US dollar as the exchange rate of the local currency is increasing with high export earnings as well as increased remittance inflows.

The upward inflow of foreign exchange from these two heads was seen during last few months, banking sources said.

Taka has been appreciating during last two weeks after it suffered continuous fall for several months.

The exchange rate of the greenback ranged between Tk 81 and Tk 82 at the inter-bank money market yesterday. On Sunday, the rate in Bangladesh Bank was Tk. 81.70 while it varied in other commercial banks.

In Agrani Bank, the rate was Tk 81.75, while it was Tk 81.85 in NCC Bank, Tk 81 in Janata Bank, Tk 81.60 in Rupali Bank, Tk 81.80 in Uttara Bank and Tk 81.97 in IFIC Bank. Meanwhile, the pressure on the foreign exchange reserve decreased due to higher inward remittance sent by the expatriates.

The present foreign exchange reserve with Bangladesh Bank stands at over US dollar 10 billion.

By January this year, the inward remittance was Tk 1215.80 million which was Tk 1147.22 million in December last year.

Bangladesh Bank sources said the reserve at the central bank came down at US dollar 9 billion in last September, and later the amount crossed US dollar 10 billion in October fell to about US dollar 9 billion from November to December. Meanwhile, the central bank stopped selling US dollar without emergency reasons but it was selling the greenback considering the type of products is being imported.

The Daily Sun/Bangladesh/ 5th March 2012