Dhaka, Bangladesh (BBN) - The US dollar gained against the local currency on Tuesday in spite of intervention in the market through selling the greenback to the commercial banks by the central bank, official said.
"The central bank sold US$22 million at market rate to three commercial banks on the day to meet the growing demand for the greenback," a senior official of the Bangladesh Bank (BB) said, adding that the central bank may continue such intervention in line with the market demand.
The US dollar was quoted at BDT 70.3800-BDT 70.4500 in the inter-bank foreign exchange market on Tuesday against BDT 70.2500-BDT 70.4000 of the previous working day, market operators confirmed.
The central bank of Bangladesh earlier started intervention in the foreign exchange market through selling the US dollar to the commercial banks more than one year back aiming to keep the market stable.
BBN/SI/AD-20Oct10-12:10 am (BST)