Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has intervened in the foreign exchange market through selling the US dollar to the commercial banks aiming to keep the market stable.
“The central bank has sold US$40 million at market rate to three commercial banks on Wednesday to meet the growing demand for the US dollar,” a senior official of the Bangladesh Bank (BB) said, adding that such intervention would continue in line with the market requirement
The US dollar was quoted at BDT 70.3400-BDT 70.3500 in the inter-bank foreign exchange market on the day unchanged from the previous working day, market operators said.
September 28 this year, the BB started intervention in the foreign exchange market through selling the US dollar to the commercial banks directly more than one year back.
As part of the intervention, the central bank has so far sold $311 million to the commercial banks to meet the growing demand for the greenback.
BBN/SI/AD-25Nov10-12:38 pm (BST)