BB continues to buy dollar to keep market stable
Monday, 24 May 2010
FE Report
The central bank continued its intervention in the inter-bank foreign exchange market Sunday through buying US dollar from the commercial banks to keep the market stable, officials said.
"We've bought US$4.0 million more at market rate from the commercial banks directly aiming to keep the rate of local currency stable against the greenback," a senior official of the Bangladesh Bank (BB) told the FE.
The US dollar was quoted at Tk 69.32- Tk 69.33 in the inter-bank foreign exchange market on the day against Tk 69.30-Tk 69.31 of the previous working day, according to the central bank statistics.
A total of $1.984 billion was bought from the commercial banks since July 2, 2009, as part of the central bank's intervention in the market, the central bank officials confirmed.
In fiscal 2008-09, the central bank bought worth $1.511 billion directly from the commercial banks against only $202.50 million of the previous fiscal, the BB's data showed.
The central bank continued its intervention in the inter-bank foreign exchange market Sunday through buying US dollar from the commercial banks to keep the market stable, officials said.
"We've bought US$4.0 million more at market rate from the commercial banks directly aiming to keep the rate of local currency stable against the greenback," a senior official of the Bangladesh Bank (BB) told the FE.
The US dollar was quoted at Tk 69.32- Tk 69.33 in the inter-bank foreign exchange market on the day against Tk 69.30-Tk 69.31 of the previous working day, according to the central bank statistics.
A total of $1.984 billion was bought from the commercial banks since July 2, 2009, as part of the central bank's intervention in the market, the central bank officials confirmed.
In fiscal 2008-09, the central bank bought worth $1.511 billion directly from the commercial banks against only $202.50 million of the previous fiscal, the BB's data showed.