Central Bank withdrawing money from market

Sunbd Desk || Published: 2021-09-06 14:44:21 || Updated: 2021-09-06 14:44:21

Central bank is withdrawing the extra money held by commercial banks to keep the currency market stable. A maximum of Tk 7,567 crore has been withdrawn from the market in one day through the ‘Bangladesh Bank Bill’ auction. This information has been known from Bangladesh Bank sources.

Bangladesh Bank officials say the money is being raised in this way so as not to create pressure on inflation.

7 and 14 day term of the bill is giving annual interest from 1.1 percent to  maximum of 1.30 percent.

Although all Bangladeshi individuals and institutional investors, including banks and financial institutions, have been able to submit bids in the auction, the banks have participated in the auction more.

Sunbd/NJ

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