July 4, 2023 8:29 AM

Bangladesh Taka seen biggest devaluation against the US dollar on Monday

The Central Bank of Bangladesh raised the US Dollar selling rate at interbank level by Taka 2.85 from its foreign exchange reserves. Earlier it was Taka 106 per USD and now the new rate is Taka 108.85. Bangladesh Bank's this move is a step further to implement a unified and market-driven exchange rate regime, putting an end to multiple exchange rate mechanisms to ease pressure on country's forex reserves.   Bangladesh is facing tightrope balancing on the financial front with...