FE Report
The central bank purchased nearly US$1.0 billion from the commercial banks until May 17 of this fiscal aiming to keep the inter-bank foreign exchange market stable, officials said.
The Bangladesh Bank (BB) has continued its intervention in the inter-bank foreign exchange market through buying the US dollar from the commercial banks directly despite raising of the net open position (NOP) limit on holding foreign exchange by the commercial banks.
On May 7 last, the central bank re-fixed the NOP limit of all commercial banks to US$432 million from $190 million earlier.
"We've purchased the US currency from the commercial banks directly to help them comply with the net open position (NOP) rules on holding foreign exchange," a BB senior official told the FE Sunday.
The central bank has continued its intervention in the inter-bank foreign exchange market through selling and buying of the US currency directly besides providing overdraft facilities to the banks for keeping the overall market stable, he added.
As part of the move, the BB purchased US$24 million at market rate from two commercial banks Sunday on the same ground, they confirmed.
The US dollar was quoted at Tk 69.03 in the inter-bank foreign exchange market on the day unchanged from the previous working day, the market operators said.
The central bank of Bangladesh expedited its intervention in the inter-bank foreign exchange market through buying the greenback from the commercial banks directly since January 15 last.
BB buys $1.0b from banks until May 17
FE Team | Published: May 18, 2009 00:00:00 | Updated: February 01, 2018 00:00:00
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