The presence of over ten million Bangladeshi expatriates worldwide has made foreign exchange transactions a cornerstone of Bangladesh’s economy. With rising remittance inflows, expanding international trade, and increasing import-export activities, daily monitoring of currency exchange rates has become essential for businesses, bank customers, and the general public alike.
On Sunday (24 May), the latest buying and selling rates of various foreign currencies against the Bangladeshi Taka were published. These rates fluctuate continuously, influenced by market demand, global economic conditions, and particularly the international strength of the United States dollar. As the dominant reserve currency, movements in the US dollar often trigger corresponding shifts across other major currencies.
Economists note that although remittance inflows remain relatively stable, volatility in global energy prices, interest rate policies of major economies, and broader geopolitical and financial uncertainties continue to create instability in currency markets. This, in turn, affects exchange rate dynamics in emerging economies such as Bangladesh.
According to financial analysts, the majority of remittance earnings originate from the Middle East, Europe, and North America. Consequently, fluctuations in currencies from these regions have a direct impact on the volume of remittance converted into local currency. Even minor changes in the US dollar or Saudi riyal exchange rates can significantly alter the amount families receive in Bangladesh.
Banking sector officials explain that the foreign exchange market is primarily driven by the balance of supply and demand. Increased import payments raise demand for foreign currency, particularly the US dollar, placing downward pressure on the Taka. Conversely, stronger remittance inflows increase the supply of foreign exchange, helping to stabilise the market.
Economists further emphasise that maintaining currency stability requires a balanced approach: boosting export earnings, sustaining remittance inflows, and managing import expenditure prudently. Without such equilibrium, exchange rate volatility is likely to persist, affecting inflation and overall economic confidence.
Below are the latest indicative exchange rates published for 24 May:
Foreign Exchange Rates (24 May)
| Currency | Buying Rate (BDT) | Selling Rate (BDT) |
|---|---|---|
| US Dollar | 122.15 | 123.15 |
| Euro | 139.89 | 144.75 |
| British Pound | 162.18 | 167.29 |
| Japanese Yen | 0.76 | 0.78 |
| Singapore Dollar | 95.03 | 96.63 |
| UAE Dirham | 33.25 | 33.54 |
| Australian Dollar | 86.41 | 88.42 |
| Swiss Franc | 154.17 | 158.35 |
| Saudi Riyal | 32.53 | 32.84 |
| Chinese Yuan | 17.87 | 18.23 |
| Indian Rupee | 1.27 | 1.29 |
Officials caution that these exchange rates are subject to frequent change depending on international market movements and domestic banking operations. As such, staying updated with the latest figures is crucial for making informed financial decisions, particularly for importers, exporters, and families dependent on remittance income.