Dhaka, Feb. 6 -- The central bank purchased a further US$196.50 million through auction from 16 banks on the interbank spot market on Thursday, aiming to keep the exchange rate of the US dollar against the local currency stable.

The amount was bought under the Multiple Price Auction method, with the cut-off rate set at Tk 122.30 per dollar, according to Bangladesh Bank (BB) officials.

The BB's latest intervention in the foreign exchange (forex) market came amid a stronger inflow of inward remittances during the first four days of the current month.

Inward remittances rose by nearly 20 per cent to $506 million during February 1-4 this year, compared to $422 million in the same period last year.

"We are purchasing US dollars directly fr...