The Bangladesh Bank will start auctions of Bangladesh Bank bills in September and mopping up Tk 7,570 crore aims to wipe up excess liquidity from the country’s banking system.
On Sunday, the central bank accepted bids of 13 banks worth Tk 3,620 crore for 7-day Bangladesh Bank bills at 0.94 per cent-1.01 per cent interest. Against 14-day BB bills, the central bank accepted bids of 19 banks worth Tk 3,950 crore at 1.18 per cent-1.3 per cent interest.
The interest rates of the BB bills range between 0.5 per cent and 1.49 per cent.
As a part of this cycle, on September 1 BB has published a notice where it mentioned that auctions for 7-day, 14-day and 30-day BB bills would be held in six-days.
Till now the central bank conducted six auctions of BB bills and released Tk 19,645.5 crore from the banking system. In the auctions, banks purchased 7-day BB bills worth Tk 2,805 crore, 14-day BB bills worth Tk 3,107 crore and 30-day BB bills worth Tk 13,733.5 crore.
Source: New Age