The price of the dollar rose to 120 rupees

Banks are charging more than Tk 120 per dollar to settle import credit from traders. The bankers say that they bought the remittance for 119 rupees. Due to this, the importers have to charge 120 rupees per dollar. The head of treasury of several banks told the media this information.

It is known that dollar is not available to buy at the rate determined by the crawling peg system. They are forced to buy and sell dollars at an increased rate.

On May 8, the central bank introduced the crawling peg system for foreign exchange. The crawling peg mid-rate (CPMR) or mid-exchange rate under this system is fixed at Rs 117 per dollar. Although before the introduction of this system, the price per dollar in the country was 110 rupees. 
The central bank introduced the crawling peg system as a condition of the IMF's $4.7 billion loan as suggested by the organization. But at this rate the dollar is nowhere to be found. However, the central bank's website has given information about interbank dollar trading around the crawling peg system.