After a hiatus of nearly two months, Bangladesh Bank (BB) has resumed purchasing US dollars from commercial banks through auctions to maintain stability in the foreign exchange market and keep the exchange rate under control.
Bangladesh Bank spokesperson Arif Hossain Khan said the central bank bought $50 million from four commercial banks on Thursday at a cut-off rate of Tk 122.75 per dollar. This followed a purchase of $70 million at Tk 122.70 per dollar on Wednesday.
With these transactions, the central bank has purchased a total of $120 million so far in April.
In the current fiscal year FY2025–26, the total dollar purchase by the central bank stands at $5.61 billion.
A high-ranking official of the central bank said banks were verbally instructed earlier this week to purchase remittance dollars at a maximum rate of Tk 122.90.
However, by buying dollars at a slightly lower rate through the auction, the central bank sent a clear signal to the market that its goal is to stabilise the rate around Tk 122.75.
The market has recently felt some pressure due to geopolitical tensions, particularly surrounding US-Iran tensions, causing some banks to acquire dollars at higher rates.
However, central bank officials expect the situation to normalize soon, leading to a potential dip in the exchange rate.