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BB buys $129.5m from 13 banks as intervention continues

Forex reserves stand at $31b as remittance crosses $2.0b until Sept 21


FE REPORT | September 23, 2025 00:00:00


The central bank purchased US$129.50 million more through auction from 13 banks on the interbank spot market on Monday aiming to keep the exchange rate of the US dollar against the local currency stable.

The amount was bought under the Multiple Price Auction method and the cutoff rate was Tk 121.75 per dollar, according to the central bank officials.

The Bangladesh Bank (BB) has so far bought $1.88 billion from banks directly since July 13 last under the prevailing free-floating exchange-rate arrangement, they added.

"Our intervention in the foreign exchange (forex) market will continue to help keep the exchange rate of the US dollar against the local currency stable," a senior Bangladesh Bank (BB) official told The Financial Express (FE) in response to a query.

He also said such intervention is encouraging exporters as well as remitters and also helping to improve the country's foreign exchange reserves position.

Bangladesh's gross foreign exchange reserves rose to $31.09 billion on Thursday from $30.58 billion a week ago as per traditional calculation of the central bank.

As per the International Monetary Fund (IMF)'s Balance of Payments International Investment Poisson Manual-six edition, generally known as BMP6, the reserves stood at $26.18 billion during the period under review from $25.67 billion, according to the central bank's latest statistics.

UNB add: Remittance inflow through banking channels surpassed $2 billion in the first 21 days of September, marking a 24.3 per cent year-on-year rise, according to Bangladesh Bank data, reports UNB.

Until September 21, Bangladeshi expatriates sent home $2 billion, compared to $1.63 billion during the same period last year.

On September 21 alone, remittance stood at $128 million, while from September 18 to 20, a total of $133 million came in.

By September 20, the inflow was $1.90 billion, which crossed the $2 billion mark the very next day.

In the current fiscal year (2025-26), Bangladesh has so far received $6.93 billion in remittances, up from $5.77 billion during the same period of the previous year.

In the July-September quarter of FY2024-25, remittance inflow recorded a growth of over 20 percent compared to the previous fiscal.

Remittance has remained on an upward trend since the beginning of 2025, with March witnessing an all-time monthly high of $3.29 billion, the highest ever recorded in the country's history.

siddique.islam@gmail.com


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