The price of the US dollar is steadily increasing in Bangladesh's foreign exchange market, despite efforts by the central bank to curb the rise by selling dollars from its reserves. This development has been reported by leading national dailies Samakal and Jugantor.

Highest in 19 Months

According to a report by Jugantor, the dollar's price has surged to its highest level in 19 months. Analysts attribute this situation to a decrease in dollar supply and an increase in demand within the market.

Crisis Persists Despite Reserve Sales

A report from Samakal indicates that the dollar's price is climbing even after the central bank injected dollars into the market from its reserves. The measure is proving ineffective in stabilizing the exchange rate, putting pressure on the economy to meet import costs and service foreign debts.

Impact on the Market

The rising dollar price is increasing pressure on import-dependent sectors. The higher cost of importing fuel, food, and other essential commodities is expected to impact the country's overall economy. Business leaders are urging the authorities to take effective measures to stabilize the dollar rate.

Central Bank's Role

The Bangladesh Bank routinely sells dollars from its reserves to manage the market. However, in the current context, this approach is failing to bring stability. Economists suggest that a long-term strategy is crucial to control the dollar's price.