The central bank purchased over US$2.0 billion from banks in nearly last three months, aiming to encourage both exporters and remitters through keeping the dollar-taka rate stable.
As part of the ongoing intervention, the Bangladesh Bank (BB) bought $107 million more through auction from 10 commercial banks in the interbank spot market on Thursday on the same ground.
The latest amount was bought under the Multiple Price Auction method and the cutoff rate was Tk 121.80 per dollar, according to the central bank officials.
Earlier on 6 October, the central bank purchased $104 million from 8 banks in a similar auction.
The central bank has so far bought $2.09 billion from banks directly through 14 auctions since July 13 last under the prevailing free-floating exchange rate arrangement, they added.
"The intervention in the foreign exchange (forex) market will be continued to help keep the exchange rate of the US dollar against the local currency stable," a BB senior official told The Financial Express (FE) in response to a query.
He also said such intervention is supporting exporters as well as remitters while also helping improve the country's foreign exchange reserves position, which will help absorb possible external shock.
Bangladesh's gross foreign exchange reserves rose to $31.94 billion on Thursday from $31.68 billion on October 06 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 forex reserves stood at $27.12 billion during the period under review from $26.80 billion, according to the central bank's latest statistics.
Talking to the FE, a senior treasury official at a leading private commercial bank (PCB) said the BB's intervention has helped increase the inflow of local currency in the market.
"It may also help reduce the interest rates on both deposit and lending in the near future," the senior private banker explained.
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