Reply to thread

Message

[QUOTE="Munyaradzi Mafaro, post: 58739, member: 636"]
Bangladesh Bank acquired $353 million from twenty-six commercial banks on Monday through auction mechanisms designed to strengthen the taka against American currency. The central bank established a cut-off rate of Tk121.75 for these transactions. Officials aimed to stabilize foreign exchange markets while supporting remittance flows and export activities. The monetary authority has accumulated $1,747.50 million from commercial banks during the current fiscal year 2025-26.

Central bank leadership confirmed that their market intervention strategy focuses on maintaining currency stability through strategic dollar purchases. A senior official explained that the institution stands ready to reverse course by selling dollars to banks should the American currency gain strength against the taka. The Bangladesh Bank maintains flexibility to adjust its approach based on market conditions. These measures reflect ongoing efforts to balance foreign exchange supply and demand. Auction-based transactions allow the central bank to influence currency values while working with commercial banking partners.
[/QUOTE]

Name