Bangladesh Bank has bought another $115 million from commercial banks through auctions to stabilize the country’s foreign exchange market.
The central bank purchased these dollars from three commercial banks at a rate of Tk122.30 per dollar on Sunday (December 28), according to relevant sources.
As a result of this latest purchase, the total dollar purchase amount of Bangladesh Bank in the current FY26 stands at $3.46 billion.
Of this, $920 million was purchased in December alone, indicating the central bank’s active market intervention in recent times.
Bangladesh Bank started buying dollars through auctions from July this year as part of its strategy to intervene in the foreign exchange market. Under the market-based exchange rate system, the central bank aims to maintain a balance between the demand and supply of dollars.
That is, if the supply of dollars increases, the price in the market will decrease and if the demand increases, the price will be adjusted according to the market.
Bankers said that the demand for dollars has decreased significantly in recent times.
The government’s large foreign payment liabilities have reduced, which has reduced pressure on foreign exchange.
In addition, imports of various goods, including capital equipment, have also decreased due to the impact of stagnation in trade and investment activities.
Despite the sufficient availability of dollars, the stagnation in import activities is reflected in the credit growth picture.
According to the latest data from Bangladesh Bank, credit growth in the private sector has fallen to a record low of 6.23% at the end of October this year.
On the other hand, as the positive trend in expatriate income flows continues, the supply situation of foreign exchange is also in a somewhat comfortable position, according to those concerned.
