BB buys $134m to stabilise dollar market

The Bangladesh Bank has purchased $134 million from five banks through an auction to stabilise the foreign exchange market and manage dollar liquidity, according to a statement from the central bank on Thursday (September 4).

The auction was conducted using the multiple-price method, with exchange rates ranging from Tk 121.70 to Tk 121.75 per dollar. The cut-off rate was set at Tk 121.75, and the full amount was purchased at that rate.

According to Arif Hossain Khan, executive director and spokesperson of Bangladesh Bank, the decision to buy dollars comes amid increased remittance inflows and export earnings, which have eased pressure on the dollar market and caused a slight decline in the exchange rate.

Officials said the central bank intervened to prevent the dollar from falling further, which could negatively affect exporters and remittance senders using official channels.

“This move will help maintain exchange rate stability and support the country's foreign exchange reserves,” a central bank official said.

This is the seventh auction-based dollar purchase in recent weeks. On September 2, the central bank bought $47.50 million from eight banks.