USD turns costlier in Bangladesh

Dhaka: The price of the US Dollar has gone up by around five per cent in the Bangladeshi kerb market over the past two weeks amidst volatility in the foreign exchange market triggered by the quota reform movement.

The US Dollar was selling for 124 Taka to 125 Taka in the open market in Dhaka Wednesday whereas it was 118 taka to 119 Taka two weeks back, The Daily Star reported Thursday, citing market insiders.

The forex market has been volatile owing to a sudden reduction in remittance inflow as remitters could not send the greenback through banking channels due to an internet blackout, said money exchangers, Xinhua news agency reported.

As a result, the price has increased, the market insiders said.