Bangladesh Bank purchased $104 million from commercial banks on Monday to stabilize the exchange rate and strengthen foreign exchange reserves.
Since July, the central bank has bought a total of $1.98 billion, injecting over Tk24,000 crore in local currency liquidity into the banking system.
This move has contributed to a decline in treasury bond yields, which have fallen to single digits, down from nearly 12.5% in May-June.
The dollar purchase on Monday was conducted through an auction, with a rate of Tk121.80 per dollar, confirmed Bangladesh Bank spokesperson Arief Hossain Khan.
Bangladesh’s foreign exchange reserves crossed $31.5 billion on Sunday, surpassing $26.62 billion as per the BPM6 method of the International Monetary Fund.
The increase in reserves has been partly driven by strong remittance inflows.
Bangladesh Bank reported over $8 billion in inward remittances this fiscal year until Sunday, up from just under $7 billion during the same period last year.
