Dhaka, Bangladesh (BBN)– The central bank of Bangladesh purchased US$5.0 million from three commercial banks on Tuesday aiming to keep the inter-bank foreign exchange market stable, officials said.
“We’ve bought the US currency at market rate from the commercial banks directly aiming to keep the rate of local currency stable against the greenback,” a senior official of the Bangladesh Bank (BB) said, adding that such intervention would continue in line with the market demand.
A total of $306.50 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 BB 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/SI/AD-14Sept10-7:15 pm (BST)