Kolkata: Al Ameen arrived in Kolkata from Kairanigunge in Dhaka on Aug 1 for his sister’s treatment at a hospital in Dhakuria. The same day, he had exchanged Bangladeshi Taka for Indian Rupees and received Rs 70.25 in exchange for 100 Bangladeshi Taka. On Tuesday, when he again went to get his currency exchanged, he received only Rs 68.
Sumaiya Begum, who underwent a procedure in a Salt Lake hospital on Saturday, had some post-operation expenditure.Her husband received Rs 68.75, around 3% less than what he had received earlier.
The official exchange rate for 100 Bangladeshi Taka is Rs 71.46 in Indian currency. But with most foreign exchange dealers in Kolkata refusing to deal in Bangladeshi Taka and insisting on US dollars, local money exchangers are offering below-usual rates. Traders in the Free School Street-Marquis Street area are now offering Rs 67.25-Rs 68 for 100 Bangladeshi Taka. Several others are paying even less, fearing a further dip in the value of Bangladesh currency.
But the drop in the value of Bangladeshi Taka, combined with speculations among money exchangers about further depreciation, is eating into the budget of Bangladeshi visitors, especially those in the city for medical purposes. Al Ameen’s sister is undergoing treatment in a hospital in Dhakuria for which he has been getting the currency converted every alternate day to pay the hospital and buy medicines. “When I went to convert some currency on Tuesday, I was a little surprised when the exchanger handed me at least Rs 2,000 less than that last time. When I asked him the reason, he said the value of our currency had gone down,” said Ameen. “We are spending thousands of rupees every day for the treatment of our niece. With money exchangers paying less by almost a couple of rupees, we are feeling the pinch,” said Suhag Ali from Jessore.
A Kolkata-based forex dealer said, “We have stopped accepting Bangladeshi Taka. We are insisting on US dollars. In this trade, there is no buyer from Bangladeshi Taka now. There is no point buying it.” Another dealer said, “The value of trade of Bangladeshi Taka in Kolkata is limited. And given the situation now, compounded by daily reports of Bangladesh Bank, their central bank, the trade in Bangladeshi Taka is risky now.”
“There was a sharp drop of Rs 2 in the value of Bangladeshi Taka. We are paying Rs 68 in Indian currency for 100 Bangladeshi Taka. Till Sunday, the rate was Rs 70,” said Mohammad Maid of Skyway Forex and Travel Pvt Ltd on Sudder Street. “We charge a little over the actual foreign exchange rate of any currency. Due to unrest in Bangladesh, we are anticipating further dip in Taka, so we are paying less,” said a popular money exchanger on Marquis Street.