Bangladesh Removes Restrictions in Currency Movement in IMF Push

Bangladesh has repealed an order that limited movements in its currency as it boosts efforts to adopt a market-determined exchange rate.

The central bank revoked a directive issued in January that capped the spread between dollar buying and selling rates, according to a statement on its website on Wednesday. It also reaffirmed a December 2024 circular that permits freely negotiated FX rates. The taka fell as much as 0.4% to 121.9333 per dollar on Thursday, according to data compiled by Bloomberg.