The New Nation - Internet Edition

Staff Reporter

The taka has gained nearly 0.1 per cent against the US dollar over the past week owing to an increased supply of the US currency in the inter-bank market.

An increase in remittances from Bangladeshis working abroad and steady exports have contributed to a rise in the supply of dollars, central bank officials said yesterday.

However, Bangladesh Bank has injected about $65 million into the banking system to indirectly help the taka to appreciate, as demand for dollar was high due to increased import payments, they said.

The taka closed on Sunday at 68.65 per dollar against 68.71 taka yesterday.

Officials said the increase might continue. "We are closely monitoring the foreign exchange market to check unnecessary transactions in the dollar by the dealer banks and ensure discipline in the market," a senior official of Bangladesh Bank said.

The central bank also withdrew cash through auctions of reverse repurchase agreement, treasury bills and the government treasury bonds to keep pressure on liquidity.

The inflow of remittances from expatriate Bangladeshis surged by 33 per cent in September from a year ago, central bank data showed.