Dhaka, Bangladesh (BB)– The central bank has continued the purchasing of the US dollar (USD) from the commercial banks directly to 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 exporters and migrant workers by keeping the exchange rate of the Bangladesh Taka (BDT) against the US dollar stable," a senior official at the Bangladesh Bank (BB) told BBN in Dhaka on Tuesday.
He also said such intervention would continue in line with the market requirement.
As part of the move, the BB bought US$ 57 million from six commercial banks on Tuesday at market rate.
The US dollar was quoted at BDT 77.67- BDT 77.68 in the inter-bank forex market on the day against BDT 77.67 of the previous working day, market operators said.
The BB has purchased $3.75 billion from the banks so far, in the current fiscal year (FY 2013-14) as part of the central bank's intervention in the market, according to the central bank statistics.
BBN/SSR/AD-25Mar14-9:02 pm (BST)