Bangladesh Bank buys another $196m from commercial banks

Bangladesh Bank purchased $196.50 million from 16 commercial banks today (5 February), continuing its efforts to stabilise the foreign exchange market and support remittances and exports.

Arief Hossain Khan, spokesperson and executive director of Bangladesh Bank, confirmed the latest purchase.

He said the transaction, conducted at a cut-off rate of Tk122.30, brings the central bank's total dollar purchases for February to $586 million.

Since July, Bangladesh Bank has bought over $4.5 billion from commercial banks through similar auctions, injecting an equivalent amount of taka into the banking system and strengthening foreign exchange reserves.

The increased availability of dollars is largely driven by rising remittance flows through banking channels, prompting commercial banks to sell foreign currency to the central bank.

A senior Bangladesh Bank official told TBS that these purchases are aimed at bolstering reserves, supporting exporters, and maintaining steady remittance inflows, forming part of a broader strategy to prevent the US dollar from depreciating against the taka.