Bangladesh Bank purchased about $60 million from four commercial banks on Sunday as part of its continued intervention to stabilise the foreign exchange market and support inflows from remittances and export earnings.
The dollars were bought at rates of up to Tk122.30 per US dollar, with Tk122.30 set as the cut-off rate. The transaction was completed under the multiple price auction mechanism, central bank officials said.
With the latest acquisition, the central bank’s dollar purchases in December have risen to $751.50 million. Cumulatively, Bangladesh Bank has bought $2.93 billion so far in the current fiscal year.
Industry insiders said the sustained dollar purchases signal a relatively comfortable foreign exchange position, backed by improved remittance inflows and steady export earnings. The intervention is also helping the central bank absorb excess liquidity in the interbank foreign exchange market.
Bangladesh Bank has been operating a market-based exchange rate regime, intervening periodically to smooth volatility rather than defend a fixed exchange rate.
Over the past three fiscal years up to FY25, the central bank sold more than $25 billion from its foreign exchange reserves, largely to meet import payments for fuel, fertiliser and food.
Following the fall of the Awami League-led government in August last year amid a mass uprising, Bangladesh Bank suspended dollar support for government imports as foreign currency reserves came under pressure.
