Following the implementation of market-based exchange rates under IMF pressure, the U.S. dollar is now trading at Tk 126.50 to Tk 127 in open market money exchange houses—significantly higher than the Tk 122.50 average in banking channels. Although official boards show lower rates, on-the-ground reports from areas like Motijheel, Paltan, and Fakirapul indicate dollars are being sold unofficially at inflated prices.
Buyers have alleged that some money exchange firms are collecting dollars from banks but withholding them in anticipation of further price hikes, contributing to market instability. In response, Bangladesh Bank has adopted a tough stance to stabilize the situation.
The central bank raised the reference rate of the dollar to Tk 122.43 and deployed seven special monitoring teams to oversee the market and curb irregularities.
Amid growing demand for foreign currency—especially during the Hajj season—Bangladesh Bank Executive Director and Spokesperson Arif Hossain Khan warned that any exchange houses found hoarding or selling dollars at excessive rates will face strict action, including fines and possible license cancellation.
Despite market tensions, bank officials claim there is no dollar shortage, citing balanced trade flows: monthly import bills total $5.5–6 billion, while export earnings and remittances bring in around $7 billion.
