BB purchases US$25 million
Friday, 16 July 2010
FE Report
Bangladesh Bank (BB) purchased US$25 million from three commercial banks Thursday aiming to keep the inter-bank foreign exchange market stable, officials said.
"We've bought the US currency at market rate from the commercial banks directly to keep the rate of local currency stable against the greenback," a senior BB official told the FE.
The US dollar was quoted at Tk 69.40-Tk 69.42 in the inter-bank foreign exchange market on the day against Tk 69.40-Tk 69.45 of the previous working day, according to the central bank statistics.
The BB official also said such intervention will continue in line with the market requirement.
A total of $74 billion has been bought from the commercial banks, so far, in the current fiscal year as part of the central bank's intervention in the market, the BB officials confirmed.
In fiscal 2009-10, the central bank bought a total of $2.16 billion directly from the commercial banks against $1.48 billion of the previous fiscal, the BB's data showed.
Bangladesh Bank (BB) purchased US$25 million from three commercial banks Thursday aiming to keep the inter-bank foreign exchange market stable, officials said.
"We've bought the US currency at market rate from the commercial banks directly to keep the rate of local currency stable against the greenback," a senior BB official told the FE.
The US dollar was quoted at Tk 69.40-Tk 69.42 in the inter-bank foreign exchange market on the day against Tk 69.40-Tk 69.45 of the previous working day, according to the central bank statistics.
The BB official also said such intervention will continue in line with the market requirement.
A total of $74 billion has been bought from the commercial banks, so far, in the current fiscal year as part of the central bank's intervention in the market, the BB officials confirmed.
In fiscal 2009-10, the central bank bought a total of $2.16 billion directly from the commercial banks against $1.48 billion of the previous fiscal, the BB's data showed.