Though the Eid approaches, Bangladesh Bank is still mopping up money around Tk17,000 crore from the market through bank bills. Usually, the scenario of money market seemed opposite ahead of festivals a couple of years ago. Bangladesh Bank had to inject money through repo in the market to meet excess demand ahead of Eid. The central bank has been spending much due to mopping up of money from the market by paying interest, said Kazemi. As a result the central bank will lose its annual profit which is not a good news for the central bank officers.

Source: Dhaka Tribune September 06, 2016 18:56 UTC