Dhaka, Bangladesh (BBN) – The central bank of Bangladesh strengthened foreign currency support to the banks for keeping the exchange rate of Bangladesh Taka (BDT) against the US currency stable particularly for importers.
As part of the move, the Bangladesh Bank (BB) sold $44 million to five commercial banks in the first week of October 2017 at market rate to settle import payment obligations for food grains and fuel oils.
However, the exchange rate of BDT remained unchanged against the US dollar in the inter-bank forex market during the period under review.
The US dollar was quoted at BDT 80.80 each, unchanged from the previous level, according to the market operators.
The BB sold a total of $198 million since July 01 of this fiscal year, 2017-18, to the commercial banks as part of its ongoing intervention.
The central bank is selling the US dollar to the banks for making their import payments against petroleum products and food grains.
Such support may be continued in the coming days in line with the market requirement, the BB officials hinted.