Bangladesh Bank (BB) has shifted its policy by significantly reducing foreign currency sales to commercial banks in an effort to protect the country’s fast-depleting forex reserves. In FY24, BB sold $12.80 billion to banks while buying only $3.38 billion, with average monthly net dollar sales around $800 million. However, since FY25, net dollar sales have steadily decreased, dropping to $573 million in July, $160 million in August, and just $22.5 million in September. This change followed the appointment of BB’s new governor, Dr. Ahsan H Mansur, who prioritized halting forex reserve depletion by purchasing rather than selling dollars. Bankers view the move as a positive step, reactivating the interbank forex market and retaining local currency within the banking system, which helps alleviate liquidity pressures.
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