SCB gets $28m OD facility from BB
Thursday, 27 November 2008
FE Report
The central bank Wednesday provided another overdraft (OD) facility worth US$ 28 million to a state-owned commercial bank (SCB) for settlement of its import bills.
"We've provided the OD facility to the SCB against government-approved securities to help settle its fuel oil, fertiliser and food grain import bills," a senior official of the Bangladesh Bank (BB) told the FE.
Earlier on Tuesday, the central bank offered an OD facility worth $10 million to the same SCB for settlement of petroleum product import bills.
The BB official said the central bank will continue its foreign currency support to the commercial banks mainly for making payments on import of fuel oils, fertiliser and food grains.
The BB continues its intervention in the inter-bank foreign exchange market by selling and buying the greenback and providing such short-term facilities to the banks aiming to keep the market stable, officials said.
As part of the intervention, the central bank recently bought $139 million from a foreign commercial bank.
The central bank Wednesday provided another overdraft (OD) facility worth US$ 28 million to a state-owned commercial bank (SCB) for settlement of its import bills.
"We've provided the OD facility to the SCB against government-approved securities to help settle its fuel oil, fertiliser and food grain import bills," a senior official of the Bangladesh Bank (BB) told the FE.
Earlier on Tuesday, the central bank offered an OD facility worth $10 million to the same SCB for settlement of petroleum product import bills.
The BB official said the central bank will continue its foreign currency support to the commercial banks mainly for making payments on import of fuel oils, fertiliser and food grains.
The BB continues its intervention in the inter-bank foreign exchange market by selling and buying the greenback and providing such short-term facilities to the banks aiming to keep the market stable, officials said.
As part of the intervention, the central bank recently bought $139 million from a foreign commercial bank.