In last 13 years, Bangladeshi currency Taka (BDT) has been devaluated almost 25% against US Dollars and the country trades internationally through USD. On January 9th, 2022, Bangladesh bank had devalued its currency by 20 paisa on their inter-bank exchange market and it fell to an unprecedented Taka 86 against USD now. Officials said the devaluation has potential to boost the country’s garment exports. In last five months, BDT has lost its value by 1.20 taka or 1.41% against USD. In 2009, one could buy one USD by 69 BDT.
Official said since the country has adequate forex reserves, over USD 44 billion, no need to be worried about BDT depreciation. However; the mass people might face difficulties due to prices hike of commodities as it has direct impacts in imported goods.