On Thursday, Bangladesh Bank (BB) acquired US$134 million from five commercial banks using various auction methods as part of its ongoing efforts to mitigate the depreciation of the US dollar against the taka and to boost the remittance and export sectors.
The central bank established a cut-off rate of Tk 121.75 for these dollar acquisitions, as indicated by data from the central bank.
A senior official from the central bank stated that BB has engaged in market intervention by buying US dollars from commercial banks through an auction, with the goal of maintaining a stable exchange rate for the BDT against the US dollar.
He further mentioned that the central bank is prepared to sell US dollars to banks through a similar auction if the value of the greenback rises against the local currency.
“We may consider market intervention whenever necessary to ensure that the exchange rate of the US dollar against the local currency remains stable,” he added.
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