Dhaka, Bangladesh (BBN)– The central bank of Bangladesh purchased US$50 million more from a private commercial bank (PCB) on Thursday to keep the inter-bank foreign exchange (forex) market stable, officials said.
“We’re buying the US currency continuously from the banks directly 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.
Such purchase may continue in the near future in line with the market requirements, the central banker hinted.
The US dollar was quoted at BDT 78.40 in the inter-bank forex market on the day which remained unchanged from the previous level, market operators said.
A total of $424 million was bought from the commercial banks between July 11 and August 11 of the current fiscal year for offsetting its increased supply to the market, the BB data showed.
The country’s forex reserves reached $30.43 billion on Thursday from $ 30.32 billion on the previous day following the purchase of US dollar.