Bangladesh Bank has purchased $2.93 billion from commercial banks in the first half of the current fiscal year, including $60 million from four banks last Sunday. The central bank confirmed the move as part of its strategy to prevent the dollar’s value from falling too sharply amid increased foreign currency supply.

Officials said the market has seen a turnaround since the fall of the previous government, with remittance inflows and export earnings both rising following tighter anti–money laundering measures. Between fiscal years 2021–22 and 2023–24, the central bank sold nearly $34 billion to stabilize the market, but this year it has shifted to buying dollars as supply now exceeds demand.

Bangladesh Bank spokesperson Arif Hossain Khan stated that the intervention aims to maintain exchange rate balance and protect exporters and remittance earners from losses. As a result, the country’s foreign exchange reserves have risen to $32.57 billion, or $27.87 billion under IMF’s BPM–6 methodology. Analysts say sustained inflows could further strengthen reserves if the trend continues.