BB continues to intervene in forex market
Friday, 23 July 2010
FE Report
The central bank continues its intervention in the foreign exchange market through purchase of US dollar from banks directly to keep the market stable, officials said.
As part of the operation, the Bangladesh Bank (BB) bought US$2.0 million from a private commercial bank Thursday at market rate to mop up excess foreign exchange from the market.
The US dollar was quoted at Tk 69.4000- Tk 69.4200 in the inter-bank foreign exchange market on the day against Tk 69.4000- Tk 69.4010 of the previous working day, according to the central bank statistics.
"We've bought the US currency at market rate from the commercial bank directly aiming to keep the rate of local currency stable against the greenback," a BB senior official told the FE.
The central bank continues its intervention in the foreign exchange market through purchase of US dollar from banks directly to keep the market stable, officials said.
As part of the operation, the Bangladesh Bank (BB) bought US$2.0 million from a private commercial bank Thursday at market rate to mop up excess foreign exchange from the market.
The US dollar was quoted at Tk 69.4000- Tk 69.4200 in the inter-bank foreign exchange market on the day against Tk 69.4000- Tk 69.4010 of the previous working day, according to the central bank statistics.
"We've bought the US currency at market rate from the commercial bank directly aiming to keep the rate of local currency stable against the greenback," a BB senior official told the FE.