Dhaka, Bangladesh (BBN)– The central bank of Bangladesh purchased US$4.13 billion from the commercial banks directly in the just concluded fiscal year (FY) 2015-16 to keep the inter-bank foreign exchange (forex) market stable.
It purchased $ 3.76 billion in the previous fiscal year, according to the central bank statistics. In FY14 and FY13, the Bangladesh Bank (BB), the country’s central bank, bought $ 5.15 billion and $ 4.54 billion respectively.
The BB, however, did not sell any single dollar on the market in the last fiscal year, the data showed.
“We’ve bought the US currency continuously from the banks to protect the interests of exporters and migrant workers by keeping the exchange rate of the Bangladesh Taka (BDT) against the US dollar stable,” a BB senior official explained.
In the FY 16, the BB purchased maximum $872 million from the banks in the month of July 2015 while no dollar was bought by the central bank in November last, according to the BB official.
He also said: “Such purchase may continue during the current fiscal year in line with the market requirements.”