Bangladeshi taka has lost its value by 6.3 percent against the US dollar as the central bank introduced a new exchange rate under the crawling peg.

The BB today introduced the crawling peg exchange rate system and allowed banks to buy and sell US dollars freely at around Tk 117. 

Under this system, a Crawling Peg Mid Rate (CPMR) has been set at Tk 117 per US dollar with an immediate effect. Scheduled banks may purchase and sell US dollars freely around the CPMR with their customers and in interbank deals.

The taka has lost its value by about 35 percent against the US greenback in the past two years amid higher import bills fuelled by a spike in global commodity prices and an unprecedented depletion of foreign currency reserves.