BB Buys $202m to Steady Forex Market, Boost Inflows

Bangladesh Bank on Tuesday purchased $202 million from 13 commercial banks to stabilise the foreign exchange market and strengthen remittance and export inflows.

With this transaction, total dollar purchases through multiple auctions in the current fiscal year have reached $2.51 billion.

The central bank conducted the latest purchase through a Multiple Price Auction, where the exchange rate ranged between Tk122.27 and Tk122.29 per dollar. The cut-off rate was set at Tk122.29.

Bangladesh Bank began buying dollars through the auction system on July 13 as part of its effort to manage liquidity in the forex market. Executive Director and spokesperson Arif Hossain Khan confirmed the transaction.