US Dollar Exchange Rate in Bangladesh on August 19, 2024

On August 19, 2024, the exchange rate for 1 US Dollar (USD) to Bangladeshi Taka (BDT) is 118.00 in interbank rates​ (Bangladesh Bank), with other platforms reporting rates around 118.825​ (Wise). Over the past week, the rate has fluctuated, with a low of 117.364 BDT and a high of 118.825 BDT​ (Wise).

Bangladesh's exchange rate stability has become a central focus due to global economic pressures. The rising US dollar value is driven by increasing demand for the currency, both globally and locally. Inflation concerns and the balance of trade have contributed to the BDT's weakening against the USD, making remittances more valuable for recipients in Bangladesh but also increasing costs for imports.

Key Factors Influencing USD/BDT Rates:

1. Remittances: A major inflow of US dollars to Bangladesh comes from remittances sent by the Bangladeshi diaspora. As remittances rise, the supply of USD increases, impacting the exchange rate.
2. Export Earnings: Bangladesh’s robust garment sector remains one of the key sources of foreign exchange. When export earnings are strong, the BDT can stabilize or even appreciate.
3. Global Economic Trends: International developments, such as US Federal Reserve policies and global economic conditions, also influence the USD/BDT rate.
4. Inflation and Import Costs: The rising cost of imports, particularly energy and food, has pressured the BDT, leading to a depreciation against the USD.

Market Outlook: In the short term, fluctuations are expected as Bangladesh adjusts to external economic conditions and internal inflationary pressures. Analysts recommend watching global trends in the USD, particularly related to US Federal Reserve policies and any potential interventions by the Bangladesh Bank​ (Bangladesh Bank)​ (Wise).