BB buys $15m more from two commercial banks
Wednesday, 25 March 2009
FE Report
The central bank purchased US$15 million more from two commercial banks Tuesday to keep the inter-bank foreign exchange market stable.
"We've bought the US dollar from the banks at Tk 69.00 per unit to help them 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.
The US dollar was quoted at Tk 69.00-Tk 69.01 in the inter-bank foreign exchange market on the day against Tk 69.01 -Tk 69.03 previously, market operators said.
He also said the central bank continues its intervention in the inter-bank foreign exchange through selling and buying of the US currency directly and providing overdraft (OD) facilities to the banks.
On March 17 last, the BB similarly purchased $18 million from two private commercial banks on the same ground.
The central bank 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 $307.20 million from commercial banks as part of its intervention in the market, they confirmed.
The central bank purchased US$15 million more from two commercial banks Tuesday to keep the inter-bank foreign exchange market stable.
"We've bought the US dollar from the banks at Tk 69.00 per unit to help them 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.
The US dollar was quoted at Tk 69.00-Tk 69.01 in the inter-bank foreign exchange market on the day against Tk 69.01 -Tk 69.03 previously, market operators said.
He also said the central bank continues its intervention in the inter-bank foreign exchange through selling and buying of the US currency directly and providing overdraft (OD) facilities to the banks.
On March 17 last, the BB similarly purchased $18 million from two private commercial banks on the same ground.
The central bank 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 $307.20 million from commercial banks as part of its intervention in the market, they confirmed.