Dhaka, Nov. 11 -- The exchange rate of the US dollar in Bangladesh's banking channels has crossed Tk 125, driven by a surge in demand for fuel and petroleum imports, defying various stabilization measures by Bangladesh Bank.

On Tuesday (Nov 10), several commercial banks purchased US dollars from exchange houses at rates ranging between Tk 125.10 and Tk 125.15. Meanwhile, the dollar rate for settling import letters of credit (LCs) stood between Tk 124.90 and Tk 124.97. Over the past three months, the price of the dollar has escalated by more than Tk 2.30.

An official of foreign exchange department of Bangladesh Bank told UNB that the central bank has a target to keep exchange rates below Tk125.

The official not responsible for talking w...