Bangladesh Bank has launched a Foreign Exchange Market (FXM) Module to automate foreign exchange intervention, interbank transactions and reporting activities, aiming to improve efficiency, transparency and market oversight in the country’s foreign exchange market.
The central bank said in a press release that Governor Md Mostakur Rahman, FCA, formally inaugurated the live operation of the FXM system on September 1, 2026. The inauguration ceremony was attended by Deputy Governor Dr Md Kabir Ahmed, Director of the Forex Reserve and Treasury Management Department-1 A K M Ramizul Islam and other officials from the department.
Bangladesh Bank conducts foreign exchange intervention auctions from time to time to maintain stability in the domestic foreign exchange market. Commercial banks also conduct interbank foreign exchange transactions, including spot, forward and swap transactions. In addition, customer-level foreign exchange transaction data, including import, export and remittance activities, are collected from banks to prepare reference rates, which are published twice daily on the central bank’s website.
These activities were previously conducted manually. To automate the process and ensure greater efficiency and transparency, Bangladesh Bank developed the FXM Module as an electronic system using its own manpower.
The central bank has already issued a circular containing operational guidelines and procedures for the FXM system to support user banks. The system is expected to enable real-time execution of foreign exchange transactions, improve the accuracy of reference rate preparation and ensure greater reliability and transparency of related information.
The automation will strengthen commercial banks’ ability to make timely decisions and improve operational efficiency, while supporting liquidity and risk management activities. Real-time access to market information will also help Bangladesh Bank enhance market surveillance and take timely, data-driven decisions.
The central bank said the initiative would play an important role in improving efficiency, transparency and accountability in domestic foreign exchange market operations, while strengthening market management and policy formulation.
