UNB, Dhaka:

Banks have increased the price of United States dollar up to Tk 119.40 after getting central bank instruction to rate hikes to lure more remittance through the legal channel.

Over a dozen banks increased the US dollar exchange rate on Monday (July 29) for remittance, while the flow of expatriate remittances saw a downfall since the last week of this month.

Bank officials said that internet service closure and the recent students’ quota reform demonstration impacted inward remittance flow.