STAR BUSINESS REPORT

The taka has weakened further against the US dollar as the Bangladesh Bank is selling the American greenback to banks at Tk 102.

The move is aimed at adjusting the exchange rates gradually in line with the market demand and supply.

The latest depreciation comes a month after the central bank sold the greenback to banks at Tk 101. Since January, the BB depreciated the local currency by 2 per cent.

The BB is selling the US dollar to banks to help them meet their foreign currency requirements, particularly for import payments, amid the foreign exchange crisis that has been lingering for a year.

The central bank sold $56 million to banks at the new rate, said a senior BB official, seeking anonymity.

“We are adjusting the exchange rate gradually.”