A recent Bangladesh Bank report stated that the Taka's value fell by 13.3% against the US dollar in 2022.
As per the central bank's Financial Stability Report 2022, Bangladesh Bank had pumped $13.50 billion from its reserves to cool down the foreign exchange market in spite of the Taka's depreciation.
The interbank exchange rate stood at Tk85.80 per US dollar on January 2 last year whereas Tk105.40 on December 1.
On Sunday it was Tk109.50.
The volatility in the foreign exchange market arose in the pandemic's aftermath and the situation worsened at the start of the Russia-Ukraine war in February last year.
Most global currencies depreciated notably against the US dollar due to supply chain disruptions in the global market.
The report also said that currencies of major import partners, including Chinese Yuan, Indian Rupee, Japanese Yen, and Indonesian Rupiah all witnessed substantial depreciations last year.
The Pakistani rupee depreciated the most, by 22%. The Japanese yen followed suit with 14%, as per the report.
The value of the euro and UK pound sterling, two major export earning currencies, also plummeted substantially, making exports to those regions less appealing.
The euro depreciated by 6% and the UK pound sterling depreciated by 10% against the US dollar last year, the report showed.
Currencies such as the Russian ruble and the Singaporean dollar recorded a modest increase in 2022, by 2% and 1% respectively.