The central bank – Bangladesh Bank – is buying dollars from other banks to increase its foreign exchange reserves, with the aim of meeting the requirements of the International Monetary Fund (IMF) loan plan.
According to sources, despite the severe dollar crisis in the currency market, some commercial banks are selling dollars to the central bank at a loss, after receiving expatriate income at a premium.
Commercial banks are now buying Overseas and Export Earnings at Tk 109.5 per dollar. The official rate for selling dollars to importers is 110 taka, but banks are charging more than the fixed price.