Last Updated on September 13, 2022

Bangladesh Bank Changed Inter-Bank Exchange Rates for US Dollar in Their Website

Bangladesh Bank has suddenly changed the dollar interbank transaction price on Tuesday. Bangladesh Bank says that the selling price of the dollar in interbank transactions today was 106 taka 15 paisa and , the purchase price of the dollar in the interbank transaction is 101 taka 67 paisa. But it is not the central bank rate, it is the dollar price traded between the banks themselves. The price at which banks trade dollars is called the interbank rate. Until recently, the price at which the central bank used to buy and sell dollars was referred to as the interbank rate. Bangladesh Bank has been publishing that price on the website for so long.

According to the website of Bangladesh Bank, the exchange rate of taka and dollar is set by the banks. This dollar price is determined based on supply and demand and Bangladesh Foreign Exchange Dealers Association (BAFEDA) rates. Bangladesh Bank is not involved in dollar trading on daily basis. However, the market will trade if necessary.

Today the central bank suddenly changed the price. Yesterday, the selling price of the dollar was at 95 taka on the website of Bangladesh Bank. Yesterday, Monday, the price of the dollar was increased by 1 taka to 96 taka. But today the selling price of the dollar is shown on the website as more than 106 tak 15 paisa. And the purchase price is showing 101.6721 taka. However, even today, Bangladesh Bank has sold 4.5 million dollars from foreign currency reserves at the rate of 96 taka.

Central bank officials say that the price at which the banks will buy and sell dollars will be the interbank price. That will be published on the website. But the central bank will not sell at this price.