BB purchases $202m to support forex market

Bangladesh Bank (BB) on Tuesday bought $202 million from 13 commercial banks to stabilise the foreign exchange market and support remittance and export inflows, the central bank said.

With this transaction, total dollar purchases through multiple auctions in the current fiscal year have reached $2.51 billion.

The purchase was conducted via a Multiple Price Auction, with the exchange rate ranging between Tk122.27 and Tk122.29 per US dollar.

The cut-off rate was fixed at Tk122.29.

Bangladesh Bank began auction-based dollar purchases on July 13 as part of its efforts to manage liquidity in the forex market.

Executive Director and spokesperson Arif Hossain Khan confirmed the latest transaction.