Selling at higher prices in the open market due to the dollar crisis – 2024-05-11 15:34:09

by times news cr

2024-05-11 15:34:09

A day after the Bangladesh Bank officially fixed the price of the dollar at Tk 117, the price rose in the open market on Thursday (May 9). In some places, the dollar was sold at the rate of 125 rupees. However, some have not sold dollars in the open market, they are reviewing the situation.

This information was learned by talking to the officials of money exchange houses in Dilkusha, Paltan, Motijheel areas of the capital on Thursday.

Officials of the money exchanges said that although the central bank has fixed the price of the dollar, no instructions have come from our association. So, not many of us traded dollars today. However, some are selling very cautiously at inflated prices. Some have sold the dollar even at the price of 125 rupees.

Mustafizur Rahman, officer of Chowkbazar Money Exchange in Purana Paltan, said, I have sold dollars till yesterday evening. We did not trade dollars today. Because we have not been given any instructions as to what price to sell dollars.

Contacted several other money exchanges, they said they don’t have any dollars. So, can’t tell the price.

However, an official of the money exchange, who did not want to be named, said that many people are not selling even if they have dollars. We also sold some. However, I sold it knowingly. We sold dollars today at 125 rupees.

Several dollar traders were seen hanging out at the neutral money exchange house. A person on the condition of anonymity said that every dollar is being sold at 121 taka 50 paise. I have sold 119 taka at 50 paise till yesterday. Govt has increased from 110 taka to 117 taka, we are selling at 121 taka 50 paisa by increasing only 2 taka per dollar.

“We don’t have dollars right now,” said an official at the Mexico Money Exchange on condition of anonymity. I will sell according to the purchase price when I get dollars.

Note that on Wednesday, Bangladesh Bank increased the dollar price by 7 taka to 117 taka. After that, the dollar is being sold at a higher price in the open market citing the crisis.

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