Dhaka, Bangladesh (BBN) – The central bank of Bangladesh purchased US$2.0 million from a commercial bank on Wednesday aiming to keep the inter-bank foreign exchange market stable, officials said.
“We’ve bought the US currency at market rate from the commercial bank directly aiming to keep the rate of local currency stable against the greenback,” a senior official of the Bangladesh Bank (BB) said, adding that said such intervention would continue in line with the market requirement.
A total of $145.50 million has been bought from the commercial banks, so far, in the current fiscal year as part of the central bank’s intervention in the market, the central bank officials confirmed.
In fiscal 2009-10, the central bank bought a total of $2.16 billion directly from the commercial banks against $1.48 billion of the previous fiscal, the BB’s data showed.
BBN/SSR/AD-18Aug10-5:05 pm (BST)