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The US dollar edged up 0.4% against the Bangladeshi taka to 123.30 on October 1, continuing a weekly gain of 0.48%. The taka has faced persistent depreciation pressure amid foreign reserve strains and a high import bill, particularly for energy. A weaker taka increases the cost of dollar-denominated imports and external debt servicing for Bangladesh, which has been navigating a challenging balance-of-payments environment.
Oct 01, 06:51 UTCAlternativeMarkets.AI Newsroom · Data: Financial Modeling Prep
The US dollar gained 0.61% against the Bangladeshi taka to 123.6165 on September 15, with a weekly rise of 0.68%. The taka has weakened steadily against the dollar over the week. Bangladesh relies heavily on imports of fuel and raw materials priced in dollars, so a softer taka increases costs for businesses and can add to domestic inflation.
The US dollar gained 0.79% against the Bangladeshi taka to 123.4938 on September 05, though it remained 0.2% lower for the week. The daily move suggests some renewed pressure on the taka after a period of modest strengthening. Bangladesh's foreign exchange reserves and export earnings from the garment sector are key factors that influence the taka's stability against the dollar.