BB explains reason behind increasing in dollars price...

BB explains reason behind increasing in dollars price

  Staff Correspondent

 Published: 02:27 PM, 12 August 2022   Updated: 02:38 PM, 12 August 2022



Bangladesh Bank (BB) said that more dollars are going out than coming into the country due to which the rate of every dollar has increased to Tk 120 in the open market.

BB spokesperson and executive director Md. Sirajul Islam informed this on Thursday.

He said the amount of dollars are out of the country than receiving. There has been an increase in the outflow of dollars, especially, in various fields including medical, education or travel. That is why, the price of the dollar has increased in the open market. In such a situation, Bangladesh Bank discourage people to carry cash-dollars while going abroad.

Sirajul Islam said that there has been a dollar crisis due to the increase in imports. Even reserves have also been decreased. Imports are more than exports. So there is no option but to increase exports.

He added that BB is regularly supplying dollars from reserves to keep the market normal and it will be continue. However, we should keep an eye to increase remittances.

Operations are underway in the relevant places to catch the dollar manipulators, said the BB spokesperson, warning that actions have already been taken against several institutions due to irregularities.