The Bangladesh Bank has purchased an additional $10 million from commercial banks through an auction, aiming to boost the dollar exchange rate against taka.
The central bank made this strategic move on Wednesday, aimed at signalling an upward trend for the depreciating US dollar in the local market.
A deputy governor of Bangladesh Bank confirmed the dollar purchase through the auction, stating that the cut-off rate for buying dollars from commercial banks was set at Tk 121.95.
Context of dollar purchases
This latest acquisition follows a series of interventions by the central bank. Previously, after the dollar's value plummeted by nearly Tk 3 within a week, Bangladesh Bank made its first-ever dollar purchase through an auction on July 13, 2025.
On that day, the central bank bought $173 million at a rate of Tk 121.50. Following this, on July 15, 2025, the central bank purchased an additional $313 million at the same rate through another auction.
Impact on the Market
These consecutive auctions, where dollars were bought at higher rates, subsequently led to an increase in the currency's value. On Wednesday, the dollar exchange rate in the remittance and interbank markets surpassed Tk 122.
However, banks are charging up to Tk 122.50 for settling import Letters of Credit (LCs).
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