Dhaka, March 19 -- The demand for cash US dollars has risen sharply ahead of Eid-ul-Fitr, pushing up the greenback's exchange rate in both formal banking channels and the informal kerb market, according to market players.

Typically, demand for the greenback increases ahead of major festivals like Eid, as a significant number of people travel abroad to celebrate holidays with their family members.

Bank officials and currency traders said that the American dollar now trades at approximately Tk 124 in commercial banks, while in the kerb market, the rate has topped Tk 126 per dollar in recent days.

This year, the ongoing crisis stemming from US-Israeli war on Iran has already impacted the Taka-dollar exchange rate. The pressure has been fu...