Bangladesh Bank on Tuesday purchased fresh $313 million from 22 banks in an attempt to halt the sharp fall of the US dollar against the taka.
The central bank鈥檚 forex auction committee made the purchase at a maximum rate of Tk 121.5 per dollar, according to BB spokesperson and executive director Areif Hossain Khan.
He said that the purchasing amount will be added to the country鈥檚 foreign exchange reserve balance.
This followed another purchase of $171 million on Sunday, as the central bank moved to stabilise the foreign exchange market after a week of continuous decline in the dollar rate.
As a result of the intervention, the dollar rate rebounded to Tk 121.5 on Tuesday, up from Tk 119.5 on Monday 鈥� marking a Tk 1.4 rise in a day.
The greenback had dropped by Tk 3.3 over the past week, driven by declining demand and a surge in foreign currency inflows from remittances and exports.
On Monday, banks were buying dollars at Tk 119.5鈥�120, a steep fall from Tk 122.80鈥�122.90 just a week earlier, on July 7.
Bankers said that the ongoing trade and tariff discussions with the United States, a slowdown in investments, and increased inflows from remittances and exports in unison have contributed to the plunge in dollar rate.
With fewer import letters of credit (LCs) being opened and many banks eager to offload their dollar holdings, the demand of dollars in the market has reduced considerably, they said.
Since December 2021, the dollar had steadily appreciated against the taka, climbing from Tk 84.81 in June 2021 to Tk 93.45 in June 2022, and reaching Tk 106 in June 2023.
On December 24, The Bangladesh Bank requested certain banks not to purchase dollars above Tk 123, amid growing criticism of its poor oversight, which has driven the greenback鈥檚 price to an alarming Tk 128 against taka.
This trend reflected the volatility and acute demand of dollars in the market during the last four years.
On May 14, 2025, Bangladesh Bank announced a shift from its long-standing managed exchange rate regime to a market-based system amid recommendation from International Monetary Fund.
