Dhaka, Bangladesh (BBN) - The central bank purchased $15 million more from two commercial banks on Wednesday to keep the inter-bank foreign exchange market stable, officials said.
"We've bought the US currency from the banks directly at market rate to protect the interest of exporters and migrant workers by keeping the exchange rate of the local currency against the greenback stable," a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
According to the market operators, the US dollar was quoted at BDT 77.66- BDT 77.67 in the inter-bank foreign exchange (forex) market on the day against BDT 77.67 of the previous level.
The central banker also said the BB continues to purchase the US dollar from the banks to offset higher inflow of foreign exchange in the market. "We may continue purchasing the US dollar in the near future on the basis of market requirement.”
A total of $4.11 billion was bought from the commercial banks between July 1 and April 16 of the current fiscal (FY), 2013-14, as part of BB's intervention in the market.
BBN/SSR/AD-17Apr14-10:21 am (BST)