Bangladesh Bank has sold approximately $201 million through an auction in a bid to stabilize the foreign exchange market. Three bankers familiar with the development confirmed the sale, requesting anonymity.

Dollar sale through auction

The central bank's auction committee completed the sale of a total of $201 million, according to sources. The move is aimed at boosting dollar supply in the market and curbing volatility in the exchange rate. However, details regarding which banks purchased how much dollar were not immediately available.

Sukuk issuance announcement

On the same day, Bangladesh Bank announced the issuance of a Tk 3,000 crore short-term Bangladesh Government Investment Sukuk. The 182-day sukuk, the second of its kind, will be auctioned through the central bank's own Shariah Securities Module (SSM) software.

Central bank's role in market management

Bangladesh Bank regularly sells dollars through auctions to maintain a balance between supply and demand in the foreign exchange market. Alongside export earnings and remittances, such measures by the central bank are seen as supportive of market stability. However, the central bank has not yet issued an official statement regarding which banks participated in the auction or whether further dollar sales are planned.