The value of the US dollar has increased again against the Bangladeshi Taka. On Wednesday (October 22), the selling price of the dollar at various banks across the country reached a high of Tk 122.75, up from Tk 122.30 a week ago.

Bank officials say that a recent increase in the opening of import LCs has driven up demand for dollars in the market. Due to the higher demand, the price has also moved upward.

At Standard Chartered Bank on Wednesday, the dollar was sold at Tk 122.75 and bought at Tk 121.75.
State-owned Sonali Bank set the selling price at Tk 122.60 and the buying price at Tk 121.60.
Meanwhile, at Dhaka Bank, one dollar was sold for Tk 122.50 and bought at Tk 121.15, which is slightly higher than last week.

According to Bangladesh Bank data, the highest interbank market rate on Wednesday was Tk 122.25, compared to Tk 122.00 on Tuesday. On October 20, the rate was around Tk 121.80.

Statistics from the central bank show that import LCs worth $6.3 billion were opened in September, which is significantly higher than the $5.38 billion in August.

Recently, Bangladesh Bank purchased $38 million from six commercial banks at a rate of Tk 121.80 per dollar. Since the start of the current fiscal year, the central bank has bought a total of $2.12 billion from banks.

Mohammad Ali, Managing Director of Pubali Bank, said the increased pressure from imports has slightly pushed up the dollar price. However, this is not unusual, and the supply of dollars in the market remains adequate.