Dhaka, Bangladesh (BBN)– The central bank of Bangladesh has continued intervention in the foreign exchange market through selling the US dollar to the commercial banks aiming to keep the market stable, officials said.
“We’ve sold US$20 million at market rate to two commercial banks directly on Thursday to meet the growing demand for the US dollar,” a senior official of the Bangladesh Bank (BB) said.
The US dollar was quoted at BDT 70.5800-BDT 70.6000 in the inter-bank foreign exchange market on the day against BDT 70.5900-BDT 70.6000 of the previous working day, market operators said.
“Such intervention will continue in line with the market requirement,” the BB official said, adding that the central bank is monitoring the country’s overall forex market situation closely.
On Monday, the BB similarly sold $5.0million to three commercial banks directly on the same ground.
On September 28 this year, the central bank resumed intervention in the foreign exchange market through selling the US dollar to the commercial banks directly.
As part of the intervention, the BB has so far sold $399 million to the commercial banks to meet the growing demand for the greenback.
BBN/SI/AD-10Dec10-1:28 am (BST)
