Despite the implementation of various measures by authorities, the dollar crisis continues to persist in Bangladesh thereby inflicting hardship on businesses.
Reports claimed this adding the prices of imported goods have risen due to the elevated cost of the greenback, with a significant number of importers facing challenges in opening letters of credit (LCs) due to the scarcity of US currency in banks.
Despite protests and discussions between traders and bankers, the availability of dollars at a fixed price remains elusive.
On Wednesday, the Association of Bankers, Bangladesh (ABB), and the Bangladesh Foreign Exchange Dealers Association (BAFEDA) introduced a new dollar rate.
According to this adjustment, the purchasing rate for export proceeds and remittances was reduced to Taka 110 from Taka 110.50, while the selling rate for import settlements was set at Taka 110.50, down from Taka 111.
However, the market’s volatility persisted, with the currency not being traded at the announced rate a day after its introduction.
Instead, the dollar price surged compared to the previous day, reports added.