Dhaka, Dec. 31 -- The Bangladesh Bank purchased $89 million more through auction from seven banks in the interbank spot market on Tuesday, aiming to keep the exchange rate of the US dollar against the local currency stable.

The purchase was made under the Multiple Price Auction method, and the cutoff rate was Tk 122.30 per dollar, according to central bank officials.

Since July 13, the central bank has bought $3.13 billion from banks directly under the prevailing free-floating exchange rate arrangement, its latest data shows.

"We are purchasing the US dollars from scheduled banks to help exporters as well as remitters by keeping the exchange rate stable," a senior central bank official told The Financial Express while explaining the ma...