Bangladesh Bank purchases $313 million from 22 banks to stabilise taka amid dollar pressure
The central bank’s forex auction committee bought the dollars at a maximum rate of Tk 121.5 each.
Bangladesh Bank on Tuesday bought $313 million from 22 banks in a fresh move to stop the sharp appreciation of the taka against the US dollar.
According to central bank spokesperson and executive director Areif Hossain Khan, the Foreign Exchange Auction Committee conducted the purchase at a maximum rate of Tk 121.5 per dollar. He said the purchased amount would be added to the country's foreign exchange reserves.
The intervention came just two days after the central bank bought $171 million on Sunday, as part of efforts to stabilise the forex market following a week of continuous decline in the dollar rate.
Following Tuesday’s purchase, the dollar rebounded to Tk 121.5 — up from Tk 119.5 on Monday — marking a Tk 1.4 increase in a single day.
Over the past week, the dollar had weakened by Tk 3.3, largely due to a drop in demand and higher foreign currency inflows from remittances and exports.
On Monday, banks were buying dollars at Tk 119.5–120, down sharply from Tk 122.80–122.90 just a week earlier on July 7.
Bankers attributed the decline in dollar value to ongoing trade and tariff negotiations with the United States, slowing investments, and a surge in foreign exchange inflows.
They also noted that the demand for dollars has decreased significantly amid reduced import LC openings and banks’ eagerness to sell off their dollar holdings.
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