BB buys $25m from three PCBs
Friday, 24 July 2009
FE Report
The central bank purchased US$25 million from three private commercial banks (PCBs) Thursday aiming to keep the inter-bank foreign exchange market stable.
"We've bought US dollars from the PCBs to enable the banks comply with the net open position (NOP) rules for holding foreign exchange properly," a senior official of Bangladesh Bank told the FE.
He also said such intervention will continue in line with the market requirement to help the exporters as well as migrant workers.
On Tuesday, the BB also similarly purchased $10 million from different commercial banks on the same ground, the BB official said.
The central bank bought $417 million from the commercial banks form July 2 to July 23 as part of its intervention in the market, they confirmed.
The central bank purchased US$25 million from three private commercial banks (PCBs) Thursday aiming to keep the inter-bank foreign exchange market stable.
"We've bought US dollars from the PCBs to enable the banks comply with the net open position (NOP) rules for holding foreign exchange properly," a senior official of Bangladesh Bank told the FE.
He also said such intervention will continue in line with the market requirement to help the exporters as well as migrant workers.
On Tuesday, the BB also similarly purchased $10 million from different commercial banks on the same ground, the BB official said.
The central bank bought $417 million from the commercial banks form July 2 to July 23 as part of its intervention in the market, they confirmed.