Bangladesh Bank Admits No Control Over Dollar Market, No Intervention in Currency Trading

Bangladesh Bank has admitted that it has no control over the dollar market, with its spokesperson stating that the central bank is not intervening in currency transactions. Executive Director and spokesperson Arif Hossain Khan said banks are trading dollars among themselves without central bank involvement. He assured that if any irregularities or abnormalities are detected, necessary action will be taken. Khan attributed temporary pressure on the dollar market to large foreign payments but expressed hope that the situation will normalize. The admission has sparked concerns about the central bank’s ability to stabilize the foreign exchange market, which is critical for importers and the broader economy.

Article source: arthosuchak.com | Image credit: Bloomberg.com