BBN file photo

Dhaka, Bangladesh (BBN) – The central bank of Bangladesh has sold US$5.0 to a state-owned commercial bank to settle their import payment obligations, officials said.

“We’ve provided the US currency to the public bank to settle their import payment obligations particularly for capital machinery for power plant and fertilizer,” a senior official of the Bangladesh Bank (BB) told the BBN in Dhaka.

He also said the central bank may continue providing such foreign currency support to the banks in line with the market requirements.

A total of $94 million has been sold to the commercial banks so far during the current fiscal year as part of its ongoing support, the BB data showed.

The BB so far sold only $94 million to the banks particularly state-owned commercial banks during the current fiscal year (FY) 2019-20 to meet the growing demand for the greenback in the market.

A total of $2.34 billion was sold in the FY ’19 to the commercial banks as part of BB’s ongoing support.

The central bank had provided such support to the banks for making import payments, particularly for fuel-oils, fertilisers, LNG (liquefied natural gas), and capital machinery for power plants.