Dhaka, Aug. 3 -- The country's foreign exchange market is facing renewed pressure due to a sudden rise in the demand for US dollars to settle import payments, affecting interbank rates, commercial banks, and the kerb (open) market.

As a result, the exchange rate of the US dollar has been steadily climbing over the past few weeks.

Interbank Dollar rate remains stable at Tk 122.75

According to the latest data from Bangladesh Bank, the interbank exchange rate stood at Tk 123.82 per dollar on July 30. On the same day, the spot market rate traded at Tk 123.88, compared to Tk 122.85 just a month prior. However, to clear letters of credit (LCs) for international trade, several commercial banks are spending up to Tk 123.95 per dollar.

Industr...