BB sells $13m to banks to stabilise market
Friday, 2 November 2007
FE Report
The Bangladesh Bank (BB) intervened further into the inter-bank foreign exchange market Thursday through selling US dollar, which helped stabilise the market.
The central bank sold US$13 million at market rates to two commercial banks on the day to meet the growing demand for the greenback.
"The central bank normally uses such tool in line with the market demand that helps minimise mismatch in supply and demand," a BB senior official told the FE Thursday.
The US dollar was quoted at Tk 68.65-Tk 68.66 in the inter-bank foreign exchange market on the day against Tk 68.66-Tk 68.67 previously, market sources said.
The Bangladesh Bank (BB) intervened further into the inter-bank foreign exchange market Thursday through selling US dollar, which helped stabilise the market.
The central bank sold US$13 million at market rates to two commercial banks on the day to meet the growing demand for the greenback.
"The central bank normally uses such tool in line with the market demand that helps minimise mismatch in supply and demand," a BB senior official told the FE Thursday.
The US dollar was quoted at Tk 68.65-Tk 68.66 in the inter-bank foreign exchange market on the day against Tk 68.66-Tk 68.67 previously, market sources said.