The price of the US dollar in the country is rising due to increased pressure to settle import bills for fuel oil and gas.
Insiders believe that a tendency to clear import liabilities toward the end of the month and a temporary slowdown in remittance inflow are also contributing to the increase in the exchange rate.
According to Bangladesh Bank data, the exchange rate per dollar in the interbank market stood at Tk123.87 on Tuesday.
The rate was Tk123.75 on the previous day.
A week ago, the dollar was priced at Tk123.45.
An upward trend in dollar prices was also observed at the commercial bank level.
On Tuesday, several private banks sold dollars at Tk123.98 per unit, up from Tk123.95 the previous day.
State-owned Sonali Bank also had a selling rate of Tk123.90 per dollar.
A senior official at a state-owned bank noted that market demand for dollars has spiked as the government settles outstanding payments for fuel oil and gas imports, causing their bank to experience a mild dollar shortage.
Bangladesh Bank data shows that during the first two months of the current FY27 (July–August), the country's import expenditure grew by 12% compared to the same period last year, reaching $12.20 billion.
Expenditure on fuel product imports alone during this period totaled $2.49 billion—double the amount spent in the corresponding period of the previous year.
According to relevant business professionals and officials, rising energy prices in the international market driven by Middle East tensions have created additional pressure on import costs.
A central bank official mentioned that while the overall volume of dollar trading remains roughly balanced, pressure to pay off import bills typically surges near the end of the month.
A simultaneous light dip in remittance inflow creates a temporary market imbalance, pushing up the price of the dollar.
However, the overall trend in remittance inflow remains positive.
Between October 1 and October 24 of this year, the country received $2.13 billion in remittances, compared to $2.00 billion received during the same period last year.
Meanwhile, despite pressure in the dollar market, the foreign exchange reserve situation remains relatively comfortable.
According to Bangladesh Bank data using the IMF's BPM6 accounting standard, the country's reserves stood at $31.60 billion as of October 26, up from $26.34 billion recorded during the same period last year.
