Dollar hits record Tk 112 in kerb market

The exchange rate of the US dollar against the taka today hit a record of Tk 112 in the country's kerb market.

Traders in the kerb market, an open market where people sale and buy cash dollar, said the price of the dollar had been on the increase sharply in the last couple of weeks.

Common people yesterday counted Tk 107 to purchase each dollar from the kerb market, which is largely unregulated by any regulator. This means the greenback is appreciated around Tk 5 overnight.

The exchange rate of the taka against the dollar has been increasing in the kerb market on a regular basis since the inception of this year, a trader said.

The commoners purchased dollar by counting below Tk 100 per dollar before Eid-ul-Azha.

"We usually purchase dollars from individuals and exchange houses. But it is quite difficult for us to mobilise required dollars to meet the demand of outgoing travellers to abroad," he said.

The exchange rate of the taka against the dollar in the interbank platform is also on the increase.

Banks yesterday traded the dollars with their counterparts quoting Tk 94.70, up from Tk 94.45 fixed on July 21.

On July 26 last year, the American greenback traded at Tk 84.80, meaning there has been an 11.67 per cent loss in the value of the local currency in a year.