Taka remained upwards until September (Q3) since last June against other global currencies, as indicated by its real effective exchange rate (REER).
Usually, such appreciation of the local currency is not good news for exporters as it worsens its competitiveness.
The REER, prepared by the central bank, is trade-based weight at 107.3, nearly up by 7.0 per cent from June.
On the other hand, nominal exchange rate depreciated by 0.06 per cent to Tk 83.72 in September over its previous quarter that ended on June 30.
However, the rate as of December 12 was recorded at Tk 83.90 (inter-bank rate), according to Bangladesh Bank.
Economists view that this is due to faster depreciation of the currencies belonging to Bangladesh's rival countries.
They said the country's shipment remained on the positive territory until now but this should have been much higher if the REER was low.
Dr Ahsan H Mansur, executive director at private think tank Policy Research Institute said Rupee, Renminbi, Lira and all other major currencies have depreciated much than Taka.
That's why, the REER remained up, he told the FE.
Dr Mansur said the local rate of inflation also remained high impacting the real exchange rate to go upwards.
As long as it stays so, the current account scenario will also worsen as the trade gap is widening.
A gradual appreciation is seen as a negative trend for the shipment. According to currency experts, the government and the central bank should take steps to make depreciation on the REER, being beneficial for exports.
Meanwhile, echoing the economists' view, ready-made garment makers said Taka still remained much appreciated than the other apparel-exporting countries.
Anwar ul Islam Chowdhury (Parvez), managing director of textile group Evince, said they have been appealing to the government for steps to deprecate local currency as dollar remained buoyant.
"Currencies of all trading partners were significantly lower while Taka depreciated at a much slow pace," he told the FE.
Mr Chowdhury said they are also facing another problem as buyers are not raising the value of garments despite a new wage structure for workers in place.
The minimum wage for garment workers is set to increase by 51 per cent from this month of December.
Mr Chowdhury, however, said buyers are coming and garment exports remained on the positive territory following the worse China-US trade relations.
