May 23, 2013 | 05:02 AM (BD Time)
23 May, 2013 Thursday
Taka gains 5 pc against dollar
. bdnews24.com, Dhaka
Taka has gained nearly five percent against the US dollar over the past six months as import of products except fuel oil fell and foreign remittance rose.
The foreign currency reserve touched $10.70 billion mark on Thursday as the 2012-13 fiscal kicked off with a downtrend of opening of import LCs (letter of credit) while around $1.2 billion dollars came in as remittance in July. The current foreign reserve can meet up import costs for more than four months, officials at the central bank said. The reserve dropped below $10 billion mark around a month ago as the government had to pay import costs to the Asian Clearing Union.
The officials said, the local currency in gaining on the greenback thanks to the 'satisfactory' inflow of dollar through remittance. On Thursday, the value of US dollar in the inter-bank currency market was Tk 81.60 which was Tk 0.10 less than the previous day. The price of dollar had climbed nearly to Tk 85 last January.
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