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Bangladesh Probes Money Changers as Foreign Reserves Dwindle

  • Move comes after nation sought financial assistance from IMF
  • Financial institutions asked to implement austerity measures

Bangladesh’s central bank is guarding against currency speculation amid declining dollar reserves, while simultaneously imposing austerity measures on the nation’s financial institutions.

Bangladesh Bank deployed 10 teams in Dhaka to inspect foreign currency transactions after some money changers charged as much as 112 taka per dollar on Tuesday, central bank spokesman Serajul Islam said by phone. That compares with the interbank exchange rate of 94.7 taka against the greenback Wednesday.