BB buys more greenback from commercial banks
Friday, 3 April 2009
FE Report
The central bank is continuing to purchase US dollar from the commercial banks aiming to keep the inter-bank foreign exchange market stable, officials said.
As part of the move, the Bangladesh Bank (BB) bought US$17.00 million at the rate of Tk. 69.02 per dollar from four commercial banks Thursday.
The US dollar was quoted at Tk 69.02-Tk 69.06 in the inter-bank foreign exchange market on the day unchanged from the previous level, the market operators said.
"We've bought the US dollar from the banks to help them comply with the net open position (NOP) rules for holding proper amount of foreign exchange," a BB senior official told the FE.
He also said the demand for greenback has declined slightly as the falling trend of commodities prices including fuel oil continued in the global market.
"Such intervention will continue in line with the market requirement," the BB official added.
On Wednesday, the BB similarly purchased $23.0 million from three commercial banks on the same ground.
The central bank started the latest spell of intervention in the market by buying the US currency directly from commercial banks since January 15 last aiming to keep the market steady, the BB officials said.
Since then, the BB has bought $347.20 million from commercial banks as part of its intervention in the market, they confirmed.
The central bank is continuing to purchase US dollar from the commercial banks aiming to keep the inter-bank foreign exchange market stable, officials said.
As part of the move, the Bangladesh Bank (BB) bought US$17.00 million at the rate of Tk. 69.02 per dollar from four commercial banks Thursday.
The US dollar was quoted at Tk 69.02-Tk 69.06 in the inter-bank foreign exchange market on the day unchanged from the previous level, the market operators said.
"We've bought the US dollar from the banks to help them comply with the net open position (NOP) rules for holding proper amount of foreign exchange," a BB senior official told the FE.
He also said the demand for greenback has declined slightly as the falling trend of commodities prices including fuel oil continued in the global market.
"Such intervention will continue in line with the market requirement," the BB official added.
On Wednesday, the BB similarly purchased $23.0 million from three commercial banks on the same ground.
The central bank started the latest spell of intervention in the market by buying the US currency directly from commercial banks since January 15 last aiming to keep the market steady, the BB officials said.
Since then, the BB has bought $347.20 million from commercial banks as part of its intervention in the market, they confirmed.