Bangladesh Bank buys $83 million from 11 banks to keep dollar stable at Tk 121.50
Staff Correspondent
Bangladesh Bank has purchased US $83 million from 11 commercial banks through a multiple-price auction to keep the foreign exchange market stable.
The exchange rate for the transaction ranged from Tk 121.47 to Tk 121.50, with the cut-off rate set at Tk 121.50.
Arif Hossain Khan, an Executive Director and spokesperson for Bangladesh Bank, confirmed the purchase on Sunday.
He stated that out of the total, $12 million was bought at a rate of Tk 121.47, while the remaining $71 million was acquired at Tk 121.50.
A senior central bank official described the purchase as a "normal process" and a strategic move to manage the market.
"The governor has stated on multiple occasions that the central bank will buy dollars from the market if necessary. The bank will also sell dollars to commercial banks based on demand. This is a strategic step to control the market," the official said.
This recent purchase follows similar actions on July 23. The central bank bought $10 million at a rate of Tk121.95. Additionally, in auctions on July 13 and 15, it acquired $173 million and $313 million, respectively, at a rate of Tk 121.50.
This brings the total amount of dollars purchased by the central bank through the ongoing auction process to $579 million.
