Dhaka: Bangladesh Bank (BB) today purchased US$104 million from eight 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 central bank data, it bought dollars at the rate of Tk121.78-121.80.
According to Bangladesh Sangbad Sangstha, a senior official of the central bank explained that BB intervened in the market by purchasing US dollars from commercial banks through an auction. This move aims to keep the exchange rate of the BDT against the greenback stable amidst fluctuating market conditions.
The official further mentioned that the central bank is prepared to sell the US dollar to banks through similar auctions if the exchange rate of the greenback increases against the local currency. "We may consider intervening in the market whenever necessary for ensuring the exchange rate of the US dollar against the local currency keeping it stable," he added.