TDS Desk

The demand for Indian rupee has decreased across the country which has resulted in a decrease in the price of the currency by 4-5 paisa in the span of a week in the country.

However, the sale of dollars in the country’s open market was normal on December 4.

Talking to dollar sellers in Motijheel, Paltan, Baitul Mukarram areas revealed that the price of a dollar in the open market has increased to Tk124.5, which is almost Tk1 higher than a week ago.

On the other hand, the exchange houses are asking for Tk1.40 to 1.44 per Indian rupee, whereas the price was Tk1.48/1.50 per rupee last week.

Open market dollar seller Ripon said there is no sale of Indian rupees at all. Sales have decreased due to political tensions between the two countries. The price of the rupee in local taka has decreased by 4/5 paisa.

He said that earlier, Tk50,000 to 80,000 worth of Indian rupees were sold every day, today not a single rupee has been sold. Besides, the value of the rupee is also dropping.

Another money exchanger Nadir Hossain told that the sale of rupees has decreased a lot after the Indian government stopped issuing medical visas for Bangladeshis.

He said, “Earlier, around Tk6 lakh worth of rupees were sold every week, but in the last one week, not even Tk50,000 worth of rupees were sold.”

Globally also, the Indian rupee declined to a lifetime low yesterday (3 December), pressured by the US dollar’s rally against its major peers and on concerns over the Asian country’s slowing growth rate.

The rupee dipped to a record low of 84.7425 against the dollar, inching past its previous all-time low of 84.7050 hit on Monday (2 December). Its Asian peers were mostly weaker, with the offshore Chinese yuan dropping to its lowest in a year, while the dollar index rose to 106.50 on the back of weakness in the euro.

The decline in the rupee from 84.50 to the current level “has been without much resistance, relatively speaking”, a currency trader at a bank said.