In a continued effort to stabilize the foreign exchange market, Bangladesh Bank (BB) purchased $123 million from eight commercial banks on Sunday.

The central bank acquired the US dollar at a fixed exchange rate of Tk 122.30 per dollar, which also served as the "cut-off" rate for the transaction.

Arif Hussain Khan, Executive Director and Spokesperson of Bangladesh Bank, confirmed this on Sunday.

"Today, we purchased a total of $123 million from eight commercial banks at a cut-off rate of Tk 122.30. With this, the total dollar purchase for the month of February has reached $1,448 million," he stated.

The central bank’s intervention has been substantial throughout the current fiscal year FY2025-26. To date, Bangladesh Bank has purchased a cumulative total of $5.38 billion from the country's commercial banking sector.

This latest move follows a series of significant dollar purchases by the central bank throughout February. According to official data, the bank has been aggressively buying surplus dollars from the private sector to manage liquidity and build reserves. Previous transactions this month include:

Feb 10: $171 million from 19 banks.

Feb 9: $209 million from 19 banks.

Feb 5: $196.5 million from 16 banks.

Feb 4: $171 million from 16 banks.

Feb 2: $218.5 million from 16 banks.

In all these instances, the exchange rate remained steady at Tk 122.30.