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Bangladesh Bank (BB) purchased a further US$176.50 million from commercial banks on Thursday, as part of its ongoing drive to stabilise the foreign-exchange market.
This makes total dollar purchases since 13 July to US$798.50 million under the prevailing free-floating exchange-rate regime.
According to BB sources, the fresh intervention was prompted by a continued decline in the interbank spot market exchange rate.
In Thursday's auction, the central bank injected around Tk 21.44 billion into 15 commercial banks in exchange for the US$176.50 million purchased, at a cut-off rate of Tk 121.50 per dollar.
Over the past week, the BB has bought the same total amount, US$798.50 million, through six separate auctions, aimed at strengthening the country's foreign exchange reserves.
These have come under pressure from higher import payments and recent global economic headwinds.
The central bank began this intervention on 13 July to curb volatility in the dollar-taka exchange rate and to ensure greater stability in the forex market.
A BB official, speaking on condition of anonymity, said that 17 commercial banks participated in Thursday's bidding, with 15 offering the Tk 121.50 rate accepted by the regulator.
He added that the central bank could also sell US dollars through similar auctions if the greenback continues to appreciate against the taka.
The official noted that such interventions are typically aimed at preventing excessive depreciation of the local currency and boosting reserves, in line with the International Monetary Fund's recommendations under its US$5.50 billion lending programme to help stabilise Bangladesh's macroeconomic situation.
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