Bangladesh Bank buys $196.5m more to stabilise forex market

Bangladesh Bank on Thursday purchased an additional $196.5 million from 16 commercial banks as part of its continued intervention to stabilise the country’s foreign exchange market.

The central bank bought the dollars at a cut-off rate of Tk 122.30 per US dollar, said Bangladesh Bank Executive Director and spokesperson Arif Hossain Khan.

With the latest purchase, Bangladesh Bank’s total dollar acquisition in February has risen to $586 million within the first five days of the month. 

Overall, the central bank has purchased $4.51 billion so far in the current fiscal year 2025–26.

The move follows a series of similar interventions earlier this week. On Wednesday, the central bank bought $171 million from 16 banks, while on Sunday, it purchased $218.5 million from the same number of banks.

Bangladesh Bank has largely maintained a stable exchange rate of Tk 122.30 per dollar during its recent market operations. 

In January, the central bank conducted several dollar purchases, including $55 million on January 29, $45 million on January 20, $81 million on January 12, and $223.5 million on January 6.

Central bank officials said the interventions are aimed at preventing excessive appreciation of the taka amid rising remittance inflows and stronger export earnings. 

By absorbing surplus dollars from the banking system, Bangladesh Bank seeks to stabilise the exchange rate, bolster foreign exchange reserves, support exporters and remitters, and manage overall market liquidity.

SH