Dhaka: Bangladesh Bank (BB) today purchased US$115 million from three commercial banks through multiple auction methods as part of its ongoing strategy to curb the depreciation of the US dollar against the taka and revitalise the remittance and export sectors.
According to Bangladesh Sangbad Sangstha, the central bank data revealed that BB bought dollars today at the rate of Tk 122.30. This move is seen as a response to stabilise the foreign exchange market and support economic activities by maintaining a favorable exchange rate for remittances and exports.
The purchase is part of a series of interventions by Bangladesh Bank aimed at addressing the challenges posed by the strengthening dollar, which affects the competitiveness of the country’s exports and the purchasing power of remittances sent by overseas workers.