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Open markets scrambling for dollars

Khairul Alam: Suddenly, the price of the dollar has increased on the open market (curb market). Within a few weeks, the price had increased by 5 to 6 taka per dollar.

Now customers have to pay 117 to 118 taka to buy one dollar. After the matter came to notice, law and order enforcement forces along with the Central Bank entered the field.

Licenses for several establishments were suspended and sealed for the crime of selling dollars at high prices.

In such a situation, money exchange institutions have almost stopped selling dollars due to fear. For this reason, there is a shortage of dollars on the open market.

On Sunday (September 3), such pictures were seen when visiting the Motijheel, Paltan, and Baitul Mukarram areas of the capital.

On the same day, such information was also found by searching in different areas of the capital, including Gulshan Banani.

Going to the money changers in these areas, it is seen that the workers are sitting idly. No sales activity. Those who are coming to buy dollars are directly told that there are no dollars.

When asked about this, the Executive Director and Spokesperson of Bangladesh Bank, Majbaul Haque, said that dollars are being bought and sold. But not everyone will sell.

To sell at our fixed price (112.50), they have to buy at 110/111. At this price, retailers may not be willing to sell now. This is why the crisis has arisen. But this crisis will not last long. Because people will not sit at home with dollars.

Dollars can be spent abroad using debit and credit cards. Now the value of each dollar on the card is 111 taka 50 paisa. Where every dollar is 112 taka in the bank and 117 to 118 taka in the open market.

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