Dhaka, Aug. 10 -- Bangladesh Bank has purchased US $83 million from 11 commercial banks through a multiple-price auction to keep the foreign exchange market stable.

The exchange rate for the transaction ranged from Tk 121.47 to Tk 121.50, with the cut-off rate set at Tk 121.50.

Arif Hossain Khan, an Executive Director and spokesperson for Bangladesh Bank, confirmed the purchase on Sunday.

He stated that out of the total, $12 million was bought at a rate of Tk 121.47, while the remaining $71 million was acquired at Tk 121.50.

A senior central bank official described the purchase as a "normal process" and a strategic move to manage the market.

"The governor has stated on multiple occasions that the central bank will buy dollars from th...