Written by The Banking Post
Bangladesh Bank (BB) purchased US$176.50 million from commercial banks on Thursday, continuing its intervention in the foreign-exchange market to support the taka and shore up reserves.
The latest buy takes the central bank’s total dollar purchases since July 13 to US$798.50 million under the current free-floating exchange rate regime. Officials said the move was prompted by a further decline in the interbank spot market rate.
In Thursday’s auction, BB injected about Tk21.44 billion into 15 commercial banks, paying Tk121.50 per dollar—the cut-off rate accepted from bidders. A total of 17 banks participated, with 15 matching the regulator’s rate.
The central bank has held six such auctions in just over a month, aiming to stabilise the currency market amid pressure from higher import bills and global economic headwinds.
A BB official said similar dollar sales could follow if the greenback’s appreciation persists, noting that the interventions are designed to prevent excessive depreciation of the taka and strengthen reserves. These measures align with commitments made under the IMF’s US$5.5 billion loan programme to stabilise the macroeconomic outlook.
