Dhaka: Bangladesh Bank (BB) today purchased US$134 million from five 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. The central bank set a cut-off rate of Taka 121.75 for these dollar purchases, according to the central bank data. According to Bangladesh Sangbad Sangstha, a senior official of the central bank stated that BB has intervened in the market by purchasing US dollars from commercial banks through an auction aiming to keep the exchange rate of the BDT against the greenback stable. The official further indicated that the central bank will sell the US dollar to banks through similar auctions if the exchange rate of the greenback increases against the local currency. The official emphasized that the central bank may consider intervening in the market whenever necessary to ensure the exchange rate of the US dollar against the local currency remains stable. This move is part of a broader strategy to support the nation's remittance and export sectors by maintaining a favorable exchange rate environment.
