FE Report
The Bangladesh Bank (BB) has continued its intervention in the inter-bank foreign exchange market through increasing supply of greenback that would help to bring back stability in the market.
The central bank sold US$12 million at a rate of Tk 68.68 to five commercial banks Tuesday to meet the growing demand for the greenback in the inter-bank foreign exchange market.
The BB also sold $65 million at the same rate to eight commercial banks Monday last as part of their intervention into the market.
"Further intervention will depend on market demand," a BB senior official told the FE, adding that the central bank will continue to intervene in the market whenever necessary.
The US dollar was quoted at Tk 68.67-Tk 68.68 in the inter-bank foreign exchange market on the day against Tk 68.68 in the previous working day, market sources said.
"The Bangladesh Taka may appreciate against the US dollar today (Wednesday) slightly," a senior treasury official of a commercial bank told the FE.
The inter-bank call money rate, however, was steady in an active market although the central bank withdrew cash through reverse repurchase agreement (repo) and Bangladesh Bank (BB) bills.
The rate in its extreme range fluctuated between 6.50 per cent and 10.00 per cent maintaining the previous day's range.
In most deals, the rates fluctuated between 6.50 per cent and 6.65 per cent against the previous day's range of between 6.50 per cent and 6.70 per cent, they said.
BB continues intervention in forex market
FE Team | Published: October 31, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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