Dhaka, Bangladesh (BBN)– The central bank of Bangladesh purchased US$57 million more from the commercial banks directly on Tuesday to keep the inter-bank foreign exchange market stable.
“We’ve brought the US dollar from three banks at market rate 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 senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
The US dollar was quoted at BDT 77.80 in the inter-bank forex market on the day unchanged from the previous level, market operators said.
On Monday last, the central bank similarly purchased $45million from a commercial bank on the same ground.
“We may continue such intervention in line with the market requirement,” another BB official said without elaborating.
A total of around $1.65 billion was bought from the commercial banks between July 2 and February 3 last of the fiscal year (FY) 2014-15 for offsetting its increased supply to the market.
The central bank purchased a record $5.15 billion from the banks in the FY 14 on the same ground, the BB data showed.
The country’s foreign exchange reserve rose to $22.19 billion on Tuesday from $22.10 billion of the previous day following the US dollar purchase.
BBN/SSR/AD-03Feb15-9:42 pm (BST)