Dhaka, Bangladesh (AHN) – The taka marginally depreciated 0.2 percent against the U.S. dollar in the last two weeks following a rise in demand for the greenback in the market, Bangladeshi treasury officials said Monday.

“The local currency has depreciated against U.S. dollar in line with the market demand,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told AHN Media.

He said the central bank is monitoring the overall foreign exchange market closely to keep it stable.

The U.S. dollar was traded at BDT 69.27-BDT 69.31 in the inter-bank foreign exchange market on Monday against BDT 69.15 on Jan. 24 this year, market operators said.

The BDT has been depreciating since Jan. 24 following an increase in demand for the greenback in foreign exchange market to settle payments for import of petroleum products, scrap vessels, edible oil and food grains.

“The upward trend of U.S. dollar is likely to continue for a few more days if the central bank of Bangladesh refrains from intervening in the market,” according to a senior treasury official of a leading private commercial bank.

Demand for the U.S. currency might decline shortly after easing pressures on payments for petroleum products, scrap vessels, edible oil and food grains particularly wheat, the treasury official added.

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