Bangladesh Bank on Tuesday dismissed speculation of an imminent devaluation of the taka, stating that the country’s foreign exchange market remains stable.
In a press release, the central bank said there is no immediate pressure to adjust the currency. It cited strong liquidity in the banking sector and a record surge in remittance inflows as key supports for the external position.
The release noted that foreign exchange liquidity in the banking system has increased sharply, driven mainly by rising expatriate income. As of 6 April 2026, surplus liquidity stood at $3.9 billion, up from $2.3 billion on 26 February. This reflects an increase of $1.6 billion within a month.
Cash foreign currency holdings also rose, from $47.6 million on 26 February to $49 million on 6 April, indicating continued financial stability.
Bangladesh Bank said the integration of foreign exchange accounts, cash holdings and other sources has created a broad pool of funds. This has helped settle daily import payments and external obligations smoothly, keeping market volatility under control.
As of 6 April, gross foreign exchange reserves stood at $34.35 billion, providing a strong buffer for international trade.
Despite the Net Open Position (NOP) of commercial banks reaching around $1 billion, the central bank has not intervened in the market over the past month. Under normal practice, Bangladesh Bank buys dollars when the NOP exceeds $600–$700 million.
Officials said they avoided intervention to allow natural liquidity to prevail. They added that reserves could have approached $36 billion had the bank purchased dollars.
The central bank identified remittance inflows as a key driver of stability. In March 2026, Bangladesh recorded its highest-ever monthly remittance of $3.775 billion. The trend has continued into April. Between 1 and 6 April, remittances reached $660 million, a 20.5% increase from the same period last year.
Bangladesh Bank also highlighted the settlement of major international obligations, including $1.37 billion in Asian Clearing Union bills and about $180 million in government foreign debt payments. Despite these outflows, reserves remained stable at $34.35 billion, reflecting a balanced foreign exchange position.
The central bank said the dollar market operates under a transparent, market-based system, where supply and demand are currently in equilibrium. It attributed the stability to three key factors: balanced supply and demand, strong remittance growth, and sustained market confidence.
Addressing recent media reports on a possible devaluation, Bangladesh Bank described such speculation as inappropriate and not supported by current data. It reaffirmed that the exchange rate remains stable and the market is under disciplined supervision.
