Bangladesh Bank Buys $83 Million to Curb Dollar Rate Drop
- Update Time : 06:30:13 pm, Sunday, 10 August 2025
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The Bangladesh Bank (BB) has purchased $83 million from 11 commercial banks through an auction today, responding to a sharp decline in the US dollar’s value against the taka.
A senior central bank official, speaking on condition of anonymity, said the cut-off price was set at Tk 121.50 per dollar, with bids ranging between Tk 121.47 and Tk 121.50 under the multiple price auction system.
The move follows similar interventions last month, when the BB bought $484 million in two separate phases — the first such operations under the floating exchange rate system. The purchased dollars will be added to the country’s foreign exchange reserves.
As of August 8, Bangladesh’s reserves stood at $25.12 billion (BPM6 standard), up from $20.48 billion a year earlier.
According to central bank officials, the intervention aims to prevent sharp volatility in the forex market. They noted that excessive drops in the dollar’s value could hurt exporters and overseas remittance earners, while sudden spikes could increase import costs.
However, some economists have questioned the move, arguing that a lower dollar rate could help ease inflationary pressure. They suggest that reducing the rate from Tk 120 to around Tk 110 could significantly help in curbing high consumer prices.
