Dhaka, June 2 -- The Bangladesh Bank (BB) purchased $54 million more from four banks on the interbank spot market on Monday, aiming to keep the exchange rate of the US dollar against the local currency stable.

The amount was bought through auction from the banks under the Multiple Price Auction method, and the cutoff rate was Tk 122.75 per dollar, according to central bank officials.

BB's latest intervention in the foreign exchange market came amid a surge in inward remittance inflows in May, driven largely by transfers sent ahead of the Eid-ul-Azha celebrations.

The flow of inward remittances grew by more than 15 per cent to $3.42 billion in May, up from $2.97 billion in the same period last year.

"The purchase of US dollars from ban...