The Bangladesh Bank (BB) purchased $54 million more from four 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 through auction from the banks under the Multiple Price Auction method, and the cutoff rate was Tk 122.75 per dollar, according to central bank officials.
BB's latest intervention in the foreign exchange market came amid a surge in inward remittance inflows in May, driven largely by transfers sent ahead of the Eid-ul-Azha celebrations.
The flow of inward remittances grew by more than 15 per cent to $3.42 billion in May, up from $2.97 billion in the same period last year.
"The purchase of US dollars from banks has helped maintain exchange rate stability for exporters and remitters, while also boosting the country's foreign exchange reserves," a senior central bank official told The Financial Express.
The Bangladesh Bank has so far bought $6.35 billion from banks directly since July 13, 2025, under the prevailing free-floating exchange rate arrangement, the latest data shows.
Meanwhile, Bangladesh's gross forex reserves rose to $34.77 billion on Monday from $34.60 billion on May 23, 2025, as per the traditional calculation of the central bank.
But according to the International Monetary Fund's (IMF) BPM6 method, forex reserves stood at $30.11 billion during the period under review from $29.91 billion.
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