After a five-month pause, dollar rates have started to rise, prompting the central bank to question the managing directors of 13 banks about the fresh volatility of the greenback.
The Bangladesh Bank yesterday sought explanations from managing directors of six private banks citing their alleged involvement in taking advantage of the volatility in the foreign exchange market to make a super profit.
Volatility in the country’s foreign exchange market has intensified once again as Bangladesh Bank has commenced tinkering with the exchange rate of the taka against the US dollar.
The Bangladesh Bank today asked banks to suggest uniform exchange rates of the taka against the US dollar in order to bring back the stability in the country’s foreign exchange market.
There is nothing to panic about the current volatility in the foreign exchange market, said Mustafizur Rahman, a distinguished fellow at the Centre for Policy Dialogue.
