Dhaka, Bangladesh (BBN) – The central bank of Bangladesh has continued to purchase US dollar from the banks which has already crossed US$3.0 billion so far in the current fiscal year (FY2012-13), officials said.

“The central bank has bought the US currency from the banks directly aiming to keep the inter-bank foreign exchange (forex) market stable,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka. 

A total of $3.136 billion has been bought from the commercial banks during the July-February period of the FY `13 as part of the central bank’s intervention in the market, according to the BB officials.

Under the move, the BB bought $50 million on Wednesday from the Islami Bank Bangladesh Limited at market rate.

The US dollar was quoted at BDT 78.85 in the inter-bank forex on the day against BDT 78.85- BDT 78.88 on the previous day, market operators said.

Country’s reserve reached $13.747 billion on the day from $13.677 billion on the previous day, following the purchase of US dollars’.

The local currency appreciated continuously against the US dollar in the recent months despite the central bank intervention in the forex market.

Bangladesh Taka (BDT) appreciated by 1.13 percent against the greenback in the first 58 days of the current calendar year, thanks to increase in the inflow of foreign exchange in recent months.

The US dollar was quoted at BDT 78.85 in the inter-bank forex market on Wednesday against Tk 79.7500 on January 1, 2013.

BBN/SSR/AD-28Feb13-10:48 am (BST)