BB continues to buy more dollars in auction
Business Report :
Bangladesh Bank purchased another $45 million from banks in an auction on Thursday with the paying between Tk 121.35 and Tk 121.50 per dollar, reacting to the sharp drop in the US dollar rate.
Earlier in the mid of last month the exchange rate of the American greenback continued to fall against the local currency.
To tackle the sharp fall, the banking regulator on July 13 bought $171 million from 18 commercial banks through an auction – the first such move under the floating rate system.
With the latest amount, the central bank has, so far, bought US dollars amounting to $539 million from commercial banks operating in the country since July 13 last under the prevailing free-floating exchange rate regime.
The cut-off rate for the latest transactions was Tk 121.50 per dollar, down by 45 per cent from that of July 24, 2025.
Such purchases were intended to bolster the country’s forex reserves, which came under pressure due mainly to rising import payments and global economic headwinds, according to sources.
Usually, the central banker go for intervention to prevent the downfall in the value of Bangladeshi Taka in exchange of US dollar, and also bolster the foreign currency reserve in line with the prescription of IMF (international monetary fund) under its $5.50-billion lending package for the country’s macroeconomic stability.
Since the beginning of latest intervention, the local currency has lost its value at Tk 0.85 against the US dollar.
On the first day of its intervention, the reference rate stood at Tk 120.67 per dollar and the rate stood at Tk121.52 for a US dollar at the end of Thursday’s business hours, it was learnt.
Forex reserves reached 30.08 billion until Wednesday last week. However, as per the International Monetary Fund method, reserves are $25.06 billion, the central bank data revealed.
