BB continues forex support to banks
FE Report | Wednesday, 16 March 2011
FE Report
The central bank continued to provide foreign currency support to the commercial banks through selling of the US dollar to facilitate settlement of import bills, officials said. "We have sold US$3.0 million more at market rate to a state-owned specilised bank Tuesday to meet the requirement for the US currency," a senior official of the Bangladesh Bank (BB) told the FE. The US dollar was quoted at Tk 71.83-Tk 71.89 in the inter-bank foreign exchange market on the day against Tk 71.72-Tk 71.79 of the previous working day, market operators said. The central bank official also said the BB's foreign exchange support to the commercial banks is aimed at settling import payment bills for food grains, fuel oil and power plant equipment. Last Thursday, the central bank sold $23 million to a state-owned commercial bank on the same ground, the BB official added. "Such an intervention will continue in line with the market demand," another BB official said. The central bank is closely monitoring the country's overall foreign exchange market situation, he added.
The central bank continued to provide foreign currency support to the commercial banks through selling of the US dollar to facilitate settlement of import bills, officials said. "We have sold US$3.0 million more at market rate to a state-owned specilised bank Tuesday to meet the requirement for the US currency," a senior official of the Bangladesh Bank (BB) told the FE. The US dollar was quoted at Tk 71.83-Tk 71.89 in the inter-bank foreign exchange market on the day against Tk 71.72-Tk 71.79 of the previous working day, market operators said. The central bank official also said the BB's foreign exchange support to the commercial banks is aimed at settling import payment bills for food grains, fuel oil and power plant equipment. Last Thursday, the central bank sold $23 million to a state-owned commercial bank on the same ground, the BB official added. "Such an intervention will continue in line with the market demand," another BB official said. The central bank is closely monitoring the country's overall foreign exchange market situation, he added.