Dhaka, Bangladesh (BBN)– The central bank has continued intervention in the foreign exchange market through selling the US dollar to the commercial banks aiming to keep the market stable, officials said.
“The central bank has sold US$7.0 million more at market rate to a private commercial bank ((PCB) directly on Thursday to meet the growing demand for the US dollar,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
The US dollar was quoted at BDT 70.3500 in the inter-bank foreign exchange market on the day against BDT 70.3400-BDT 70.3500 of the previous working day.
“The central bank may continue such intervention to keep the forex market stable,” the BB official said, adding that the BB is monitoring the country’s overall forex market situation closely.
On Wednesday, the central bank similarly sold $40 million to three commercial banks directly on the same ground.
September 28 this year, the central bank 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 BB has so far sold $318 million to the commercial banks to meet the growing demand for the greenback, the central bank officials confirmed.
BBN/SI/AD-25Nov10-8:55 pm (BST)
