Dhaka, Bangladesh (BBN) – The central bank of Bangladesh purchased $25 million more from two commercial banks on Thursday aiming to help keep the inter-bank foreign exchange (forex) market stable, officials said.
“We’re purchasing the US currency from the banks directly to protect the interests of both exporters and migrant workers by keeping the exchange rate of Bangladesh Taka (BDT) against the greenback stable,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
He also said the BB may continue purchasing the greenback from the banks in line with the market requirement.
On Wednesday last, the central bank similarly purchased $41 million from two commercial banks on the same ground.
A total of $3.07 billion was bought from the commercial banks between July 2 and May 14 last of the current fiscal year (FY) 2014-15 as part of the BB’s intervention in the market.
The country’s foreign exchange reserve rose to $23.51 billion on Thursday from $23.46 billion of the previous day following the US dollar purchase.
BBN/SSR/AD-16May15-1:09 am (BST)