Forex reserve now $5.0b

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FE Report
The country's foreign exchange reserve stood at nearly US$5.0 billion as the central bank continued to buy the greenback from commercial banks to keep the foreign exchange market stable.
The foreign exchange reserve stood at $4.99 billion Monday up from $4.73 billion on July 5 after making a routine payment of $380 million to the Asian Clearing Union (ACU) for the May-June period of the current year.
"We are directly purchasing the US dollar from the banks to keep inter-bank foreign exchange market stable. This is essential for ensuring the inflow of remittances which is dependent on the local exchange rates," a BB senior official told the FE Monday.
He also said higher inflow of remittances from expatriate Bangladeshis and increased export earnings have mainly boosted the supply of US dollar in the foreign exchange market.
The central bank purchased around $120 million during first 23-day of the current month from the commercial banks to help keep their 'net open position (NOP)' within the required limit, fixed by the BB earlier.
The rate of US dollar remained unchanged against the local currency Monday due to lower demand of the greenback in the market.
The banks quoted the dollar rate at Tk 68.58- Tk 68.61 on the day against Tk 68.60 of the previous level in the inter-bank foreign exchange market.