BB sells $40 miillion
Thursday, 25 November 2010
FE Report
The central bank has intervened in the foreign exchange market through selling the US dollar to the commercial banks aiming to keep the market stable, officials said.
"We've sold US$40 million at market rate to three commercial banks Wednesday to meet the growing demand for the US currency," a senior official of the Bangladesh Bank (BB) told the FE.
The US dollar was quoted at Tk 70.3400-Tk 70.3500 in the inter-bank foreign exchange market on the day unchanged from the previous working day, market operators said.
"Such intervention will continue in line with the market requirement," the BB official said, adding that the central bank is monitoring the country's overall forex market situation closely.
September 28 this year, the central bank started intervention in the foreign exchange market through selling the US dollar to the commercial banks directly more than one year back.
As part of the intervention, the BB has so far sold $311 million to the commercial banks to meet the growing demand for the greenback.
The central bank has intervened in the foreign exchange market through selling the US dollar to the commercial banks aiming to keep the market stable, officials said.
"We've sold US$40 million at market rate to three commercial banks Wednesday to meet the growing demand for the US currency," a senior official of the Bangladesh Bank (BB) told the FE.
The US dollar was quoted at Tk 70.3400-Tk 70.3500 in the inter-bank foreign exchange market on the day unchanged from the previous working day, market operators said.
"Such intervention will continue in line with the market requirement," the BB official said, adding that the central bank is monitoring the country's overall forex market situation closely.
September 28 this year, the central bank started intervention in the foreign exchange market through selling the US dollar to the commercial banks directly more than one year back.
As part of the intervention, the BB has so far sold $311 million to the commercial banks to meet the growing demand for the greenback.