In a strategic move to stabilise the foreign exchange market, the Bangladesh Bank (BB) has purchased nearly $130 million from commercial banks in recent days, officials confirmed on Sunday.

This intervention comes as part of the central bank’s ongoing efforts to ease volatility in the interbank dollar market and maintain exchange rate stability. The dollar rate has seen upward pressure due to increasing import payments and sluggish inflows of remittances and export earnings.

A senior official from the central bank said the foreign currency purchase is aimed at preventing excessive appreciation of the dollar, which could have adverse effects on inflation and the overall macroeconomic balance.

Despite the recent purchase, the central bank has sold more than $10 billion in the last fiscal year to support the market — reflecting the ongoing pressure on foreign reserves.

Economists noted that while such interventions are necessary in the short term, long-term stability requires structural reforms to boost remittance inflows, improve export competitiveness, and attract foreign investment.

As of now, the interbank exchange rate hovers around Tk 120 per dollar, while the open market continues to see higher rates.