Bangladesh Bank has purchased a total of $ 1.3 billion ($ 1 million) from commercial banks in the last two months to keep the country’s foreign exchange market stable and to assist in remittance and export earnings. Of this, $ 1 million was collected on Monday (September 7) a day.
Bangladesh Bank started buying dollars through auction from July 7. As part of that process, this huge amount of foreign currency has been collected so far.
A senior central bank official said that on Monday (September 7th), $ 1 million or $ 10 million was purchased from 20 banks through multiple price auction. At this time the dollar is fixed at Tk 120 per dollar.
Earlier, on September 5, Bangladesh Bank also bought $ 20 million through auction. That day the cut-off rate was Tk 120 per dollar.
Deputy Managing Director of a top private bank said that due to strong remittance flow and export earnings, banks have been able to pay long -time import liability, especially fuel import bills. Due to these liabilities and the reduction of import pressure, the dollar supply is higher than the demand in the market. As a result, the exchange rate is gradually coming down.
EAR/AMA/MS
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