Taka appreciates by 0.10pc against US dollar in 3 weeks
Thursday, 22 November 2007
FE Report
Bangladesh taka (BDT) appreciated marginally by 0.10 per cent against the US dollar in the last three weeks following regular intervention in the foreign exchange market by the central bank, treasury officials said.
The central bank started intervening in the inter-bank foreign exchange market through selling of the US dollar at Tk 68.68 since October 29 last aiming to keep the market stable.
"We will sell more green backs to the market if the demand of the US dollar continues," a BB senior official told the FE, adding that the demand was gradually on the decline.
The central bank will weigh the market requirement of the US dollar before selling it to the commercial banks, the BB official noted.
"We will give priority to certain areas while selling the US dollar and especially to settle import bills of petroleum products and food grains," he added.
As part of the ongoing move, the central bank sold US$15 million at the prevailing market rate to two commercial banks Wednesday to meet the growing demand for the greenback.
The US dollar was quoted at Tk 68.61 in the inter-bank foreign exchange market on the day against Tk 68.60-Tk 68.61 of the previous working day, sources in the market said.
The BB has, so far, sold a total of $172.50 million to the commercial banks as part of its ongoing market intervention scheme.
"The rate of US dollar at customer level was more or less stable during the last three weeks due to the BB's intervention," a source said.
Bangladesh taka (BDT) appreciated marginally by 0.10 per cent against the US dollar in the last three weeks following regular intervention in the foreign exchange market by the central bank, treasury officials said.
The central bank started intervening in the inter-bank foreign exchange market through selling of the US dollar at Tk 68.68 since October 29 last aiming to keep the market stable.
"We will sell more green backs to the market if the demand of the US dollar continues," a BB senior official told the FE, adding that the demand was gradually on the decline.
The central bank will weigh the market requirement of the US dollar before selling it to the commercial banks, the BB official noted.
"We will give priority to certain areas while selling the US dollar and especially to settle import bills of petroleum products and food grains," he added.
As part of the ongoing move, the central bank sold US$15 million at the prevailing market rate to two commercial banks Wednesday to meet the growing demand for the greenback.
The US dollar was quoted at Tk 68.61 in the inter-bank foreign exchange market on the day against Tk 68.60-Tk 68.61 of the previous working day, sources in the market said.
The BB has, so far, sold a total of $172.50 million to the commercial banks as part of its ongoing market intervention scheme.
"The rate of US dollar at customer level was more or less stable during the last three weeks due to the BB's intervention," a source said.