Bangladesh’s growing integration into global trade networks has led to a notable increase in demand for foreign currencies. For importers, exporters, and financial institutions, keeping track of daily exchange rates is essential for making informed decisions. On Tuesday, 16 December, official exchange rates for the Bangladeshi Taka against key international currencies were published, providing important guidance for businesses across the country.
The United States Dollar currently exchanges at 122.29 BDT, the Euro at 143.58 BDT, and the British Pound at 163.57 BDT, according to Bangladesh Bank. Other prominent currencies include the Australian Dollar at 81.35 BDT, the Japanese Yen at 0.78 BDT, the Canadian Dollar at 88.81 BDT, and the Singapore Dollar at 94.69 BDT. Swedish Krona stands at 13.21 BDT, while the Chinese Renminbi trades at 17.34 BDT. In terms of regional currencies, the Indian Rupee is 1.35 BDT, and the Sri Lankan Rupee is 2.52 BDT.
In addition, Gulf and South-East Asian currencies, sourced from Google, show the Saudi Riyal at 32.56 BDT, the Kuwaiti Dinar at 398.15 BDT, and the Malaysian Ringgit at 29.93 BDT. These exchange rates serve as crucial benchmarks for companies engaged in bilateral trade with these regions.
Economic analysts emphasise that the relative strength or weakness of the Taka has immediate implications for trade balances. For example, when the Euro or Pound rises in value relative to the Taka, the cost of imported goods and services from Europe increases, which can lead to higher consumer prices and inflationary pressures. Conversely, stable Dollar-Taka rates support the predictability of revenue for exporters, thereby enhancing the country’s export competitiveness.
The analysts also point out that Taka valuation is closely tied to global market volatility, including commodity price changes, monetary policies of major economies, and geopolitical risks. Businesses are therefore advised to adopt proactive strategies such as forward contracts or hedging to manage currency exposure. By carefully tracking these rates, companies can safeguard profits, optimise pricing strategies, and ensure sustainable participation in the global market.