Central Bank Purchases $353 Million in a Single Day

ফাইল ছবি

News Desk: In an effort to prevent the depreciation of the United States Dollar (USD), the Bangladesh Bank has continued purchasing dollars from the market. On Monday alone, it bought USD 353 million at a price higher than the prevailing market rate.

On that day, the average interbank exchange rate stood at ৳121.70 per dollar, while the central bank purchased dollars from commercial banks at ৳121.75 per dollar.

According to interbank data, the lowest rate for the dollar on Monday was ৳121.70, and the highest was ৳121.73. Commercial banks sold dollars to their customers at rates ranging from ৳121.50 to ৳121.95 per dollar.

So far in the current fiscal year, the central bank has purchased a total of USD 1.7475 billion from the market.

Due to the increased supply of dollars in the market, its value has been falling, at one point dipping below ৳121. Concerned that a falling dollar rate could negatively impact export earnings and remittance inflows, the central bank is attempting to maintain its value, hence buying dollars at a price slightly above the market rate.