Dhaka, April 16 -- In a sharp reversal from its recent stance on currency stability, Bangladesh Bank has purchased $120 million from the market in just two days, even as the taka weakened against the dollar.

On Thursday alone, the central bank bought $50 million from four commercial banks at a cut-off rate of Tk 122.75 per dollar.

A day earlier, it had purchased $70 million from Islami Bank at the same rate.

The two-day intervention has led to a depreciation of the local currency by 45 poisha per dollar, marking the weakest level of the taka in the past one-and-a-half months.

The move comes barely a week after Bangladesh Bank claimed in an Apr 8 statement that the country's import and external payment situation was "normal", with no p...