No dollar trading at official exchange rate as Tk 15 spread opens up with kerb market

The US dollar crisis grows deeper in banks after Bangladesh Bank (BB) warned the banks to buy it at its prescribed pre-fixed rate, yet in the kerb (open) market, the dollar is selling at Tk128 even - an almost Tk 15 difference.

The central bank official avoid commenting on the record price of dollars in the kerb, arguing that the BB is searching for the illegal dollar traders who are behind the trading of dollars at a higher rate.

In this regard, the BB spokesperson and Executive Director Mezbaul Haque said that the central bank warned banks strictly to buy dollars at an excessive rate.

The central bank will impose rigorous punishment if banks buy dollars ignoring the bank rate, he said.

The price of the US dollar is rising unbridled in the open market. In contrast, three days later, the price of the dollar increased by Tk3 in the kerb market. On Saturday, the US dollar was selling in the kerb market at Tk127 per dollar.

Earlier, on Wednesday (November 8), every dollar was sold at Tk 124 in the kerb market.

For money exchangers, Bangladesh Bank has fixed the buying price of the dollar at Tk113.75 and the selling price at Tk115.25. However, no money exchange traded dollars at this rate.

In Motijheel, Dilkusha, Paltan, and Fakirapool areas, buyers have bought dollars at the rate of up to Tk128 per dollar in various shops and restaurants on Saturday while dollars are not traded in money exchanges.

In this regard, Secretary General of the Money Changers Association of Bangladesh Helal Sikder said that the dollar is not being traded at the rate set by Bangladesh Bank.

“The customer comes and goes back without getting a dollar. They are forced to buy dollars from illegal traders at high rates,” he added.