Bangladesh Bank Deputy Governor Dr. Md. Habibur Rahman said on Thursday (May 15) that the central bank will intervene if the dollar rate rises excessively or if the local currency depreciates beyond acceptable limits. “Precautionary measures are in place to prevent any unjustified price hikes by banks,” he stated at the ‘Monthly Macroeconomic Analysis’ (MMI) event held in Banani, Dhaka. “We have strengthened our monitoring efforts, and strict action will be taken against any manipulation in the market.”
He emphasized that the central bank possesses the necessary tools to stabilize the exchange rate, ensuring the taka does not lose value beyond desired levels.
Also speaking at the event, Anisuzzaman Chowdhury, Special Assistant to the Chief Advisor, noted that major economic turnarounds don’t always require extensive reforms. Citing Japan and several Asian economies, he said, “With the right policy and coordination, economies can shift course in as little as 10 to 15 years.”
The event was hosted by the Policy Research Institute (PRI), which announced that it will hold the MMI event monthly to review the country’s macroeconomic trends. PRI Executive Director Khurshid Alam gave the opening speech, with keynote presentations by Chairman Dr. Zaidi Sattar and Chief Economist Dr. Ashiqur Rahman.
Dollar Market Remains Stable
Despite recent market-based dollar rate adjustments, the foreign exchange market has remained stable. Most banks are buying and selling dollars at Tk 122. Some are buying remittances at Tk 122 and selling them at Tk 123. Bangladesh Bank’s published reference rate also saw a slight decrease, with Thursday’s rate set at Tk 121.99. Banks have been directed to keep their rates close to this reference.
