Bangladesh Bank increased the dollar price by 7 taka. The official rate of the dollar, which has been at 110 taka for a long time, has been raised to 117 taka in a day.

The central bank said prices were pushed up due to lower supply than demand in the market and International Monetary Fund (IMF) loan conditions.

A circular has been issued in this regard from Bangladesh Bank on Wednesday.

It is said in the circular, from now on, dollars will be bought and sold in a new method called ‘crawling peg’. In this way, today (Wednesday) dollar rate has been fixed at 117 rupees.

From September last year to date, the price of the dollar was Tk 110, which was fixed by the Association of Bankers Bangladesh (ABB) and Bafeda.

In view of increasing the price of the dollar by 7 rupees, traders say that being an import-dependent country, the cost of imports will increase and the price of products will increase. Imports will be negatively affected. As a result, inflation will increase further. The pressure will increase on the common people.