Dhaka, Bangladesh (BBN)- Bangladesh Bank (BB) purchased US$30 million more a commercial bank on Wednesday aiming to keep the country’s inter-bank foreign exchange (forex) market stable, officials said.
We’ve brought the US currency from the bank at market rate to protect the interests of exporters and migrant workers keeping the exchange rate of Bangladesh Taka (BDT) against the US dollar stable,” a BB senior official told BBN in Dhaka.
The US dollar was quoted at BDT 77.80 in the inter-bank forex market on the day unchanged from the previous level, according to the central bank statistics.
“We’ll continue such intervention in line with the market requirement,” the central banker said without elaborating.
Earlier on January 12 last, the central bank resumed purchasing the US dollar from the banks after around three months because of lower demand for the greenback in the market.
A total of around $1.55 billion was bought from the commercial banks between July 2 and January 28 of the fiscal year (FY) 2014-15 for offsetting its increased supply to the market.
The country’s foreign exchange reserve rose to $22.10 billion on Wednesday from $21.90 billion in the previous working day following the US dollar purchase.
BBN/SSR/AD-29Jan15-11:40 am (BST)