DHAKA, Nov 23, 2023 (BSS) - Bangladesh Bank (BB) has lauded the recentdecision of Bangladesh Foreign Exchange Dealers' Association (Bafeda)and the Association of Bankers, Bangladesh (ABB) to depreciate thedollar by Taka 0.50. Highlighting the positive position of all banks' Net Open Position,Haque emphasized that there is an ample supply of dollars. Therefore,BAFEDA's decision to depreciate the dollar by Taka 0.50 per dollar wasdeemed prudent, he added. This marks the first adjustment in the dollar price since August 2021when the Bangladesh Bank was setting the price. Since September of thesame year, BAFEDA and ABB have been jointly determining dollar pricesto stabilize the exchange rate, making this recent move a significantstep in managing the currency's valuation.

Source: Bangladesh Sangbad Sangstha November 23, 2023 12:47 UTC