Dollar continues to gain against taka

The US dollar continues to gain against the taka amid increased demand for foreign currency to clear import bills.

On July 13, the weighted average rate of the greenback hit Tk 123 per dollar in interbank trading. The rate, after remaining steady for three days, began to increase gradually.

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On July 30, the taka-dollar exchange rate rose to Tk 123.82 per dollar in the interbank market. On the spot market, the dollar was traded at Tk 123.88 each on the same day, according to Bangladesh Bank (BB) data.

“We are seeing increased pressure for import payments, particularly for the import of fuel and fertiliser by government agencies. Overall, imports have increased too,” said a top executive of a private bank.

During the July-May period, Bangladesh’s imports grew 6.26 percent year-on-year to $64 billion. By contrast, exports declined 2 percent year-on-year to $40 billion, according to BB.

Bankers said that although the country received a record $35.5 billion in remittances sent by migrant workers and Bangladeshis living abroad, the inflow has slowed recently as the two major festivals -- Eid-ul-Fitr and Eid-ul-Azha -- have already been celebrated.

“It appears exports are likely to remain dull. The fresh escalation of the war in the Middle East and the consequent spike in oil prices have also raised concern,” said another banker. “It appears that the taka will remain under pressure for some time.”

However, there is a flip side. A weaker taka will enhance the competitiveness of exports, bankers said.

As demand for foreign currency increases, BB has stopped buying US dollars from the market since June 8. The central bank bought $6.4 billion from the market between July 2025 and June 2026 as part of its effort to build foreign exchange reserves.