The central bank increased the dollar price by 7 taka to 110 to 117 taka. The dollar's official price was announced in a notification on Wednesday (May 8).

According to the notification, from now on dollar will be traded in a new method called crawling peg. In this method, the average dollar rate is fixed at 117 rupees.

But since September last year, the price of dollar was 110 rupees. Which was the dollar rate set by Association of Bankers Bangladesh (ABB) and BAFEDA.

As the country is an import-dependent country, an increase in the value of the dollar will increase the cost of imports, and the price of goods will increase. Pressure will increase on common people, inflation will increase.

In this regard, the former advisor to the caretaker government and prominent economist Dr. AB Mirza Md. Azizul Islam told the media that the price of 117 taka per dollar is better if implemented through the crawling peg. However, there is definitely a possibility of an increase in inflation.

Helal Uddin, former vice-president of FBCCI and president of Bangladesh Shop Owners Association told the media that our country is dependent on imports. Our economy has been under pressure for a long time. Now suddenly if the dollar price is too high it will create a negative effect. Imports in particular will be negatively affected. The import cost of the product will increase a lot, and the importers will be forced to increase the price of the product.

He also said that the common people will be pressured by the sudden decision to increase the price of the dollar. Inflation will increase, people will suffer. Still we have to bring the economy to a place. In this case, if the price increases gradually, the suffering will be a little less. Bangladesh Bank should take all aspects into consideration.