BB buys $12m from two PCBs
FE Report | Thursday, 26 February 2009
The central bank purchased $12 million more Tuesday from two private commercial banks (PCBs) to keep the inter-bank foreign exchange market stable.
"We've bought the US dollar from the PCBs at Tk 68.90 per unit to help the banks comply with the net open position (NOP) rules for holding the foreign currency fund properly," a senior official of the Bangladesh Bank (BB) told the FE.
He also said the central bank continues its intervention in the inter-bank foreign exchange market through selling and buying of the US currency directly and providing overdraft (OD) facilities to the banks aiming to keep the market stable.
On Monday last, the central bank similarly purchased $3.50 million from a foreign commercial bank on the same ground, officials said.
The BB started the intervention in the market by buying the US currency directly from the commercial banks on January 15 last to keep the market steady.
Since then, the BB has bought $224.20 million from commercial banks as part of its intervention in the market, they confirmed.
"We've bought the US dollar from the PCBs at Tk 68.90 per unit to help the banks comply with the net open position (NOP) rules for holding the foreign currency fund properly," a senior official of the Bangladesh Bank (BB) told the FE.
He also said the central bank continues its intervention in the inter-bank foreign exchange market through selling and buying of the US currency directly and providing overdraft (OD) facilities to the banks aiming to keep the market stable.
On Monday last, the central bank similarly purchased $3.50 million from a foreign commercial bank on the same ground, officials said.
The BB started the intervention in the market by buying the US currency directly from the commercial banks on January 15 last to keep the market steady.
Since then, the BB has bought $224.20 million from commercial banks as part of its intervention in the market, they confirmed.