BB sells US$20m in forex market

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FE Report
The Bangladesh Bank (BB) again intervened in the inter-bank foreign exchange market Tuesday.
The central bank sold US$20 million at market rates to two commercial banks on the day to meet the growing demand for the greenback, official sources said.
"The central bank sold the US dollar to the commercial banks for minimising the mismatch between the supply of and the demand for the greenback in the inter-bank foreign exchange market," a BB senior official told the FE Tuesday.
The US dollar was quoted at Tk 68.62-Tk 68.64 in the inter-bank foreign exchange market on the day against Tk 68.60-Tk 68.64 of the previous working day, market sources said.
The central bank first intervented in the market a week back aiming to keep the inter-bank foreign exchange market stable.
The central bank thus has sold $109 million in two weeks time to the commercial banks as part of its intervention in the market.
"The Bangladesh taka may appreciate slightly further against the US dollar in the near future," a senior treasury official of a commercial bank told the FE.